Wall Street brokerages predict that Entercom Communications Corporation (NYSE:ETM) will post sales of $120.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Entercom Communications Corporation’s earnings, with the lowest sales estimate coming in at $119.00 million and the highest estimate coming in at $121.44 million. Entercom Communications Corporation reported sales of $120.48 million in the same quarter last year, which indicates a negative year over year growth rate of 0.2%. The firm is scheduled to announce its next earnings results before the market opens on Friday, July 28th.
On average, analysts expect that Entercom Communications Corporation will report full year sales of $120.22 million for the current year, with estimates ranging from $463.60 million to $466.90 million. For the next financial year, analysts anticipate that the business will post sales of $478.51 million per share. Zacks’ sales averages are an average based on a survey of analysts that follow Entercom Communications Corporation.
Entercom Communications Corporation (NYSE:ETM) last issued its earnings results on Monday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.01. Entercom Communications Corporation had a return on equity of 8.79% and a net margin of 5.27%. The company had revenue of $97.50 million during the quarter, compared to analysts’ expectations of $97.01 million. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year.
ETM has been the subject of a number of research reports. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Thursday, May 11th. TheStreet downgraded Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, ValuEngine downgraded Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
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In related news, Chairman Joseph M. Field bought 151,545 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were acquired at an average price of $9.84 per share, for a total transaction of $1,491,202.80. Following the purchase, the chairman now owns 1,006,844 shares in the company, valued at approximately $9,907,344.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field bought 135,832 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the purchase, the chairman now owns 1,006,844 shares in the company, valued at approximately $9,796,592.12. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 583,087 shares of company stock valued at $5,775,962. 32.57% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ETM. American Century Companies Inc. boosted its position in Entercom Communications Corporation by 34.0% in the first quarter. American Century Companies Inc. now owns 225,977 shares of the company’s stock worth $3,231,000 after buying an additional 57,316 shares during the last quarter. K2 Principal Fund L.P. bought a new stake in shares of Entercom Communications Corporation during the first quarter worth about $568,000. LSV Asset Management raised its stake in shares of Entercom Communications Corporation by 11.2% in the first quarter. LSV Asset Management now owns 93,632 shares of the company’s stock worth $1,338,000 after buying an additional 9,400 shares during the period. Eqis Capital Management Inc. raised its stake in shares of Entercom Communications Corporation by 16.7% in the first quarter. Eqis Capital Management Inc. now owns 19,713 shares of the company’s stock worth $282,000 after buying an additional 2,816 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock worth $3,515,000 after buying an additional 245,000 shares during the period. Hedge funds and other institutional investors own 50.02% of the company’s stock.
Entercom Communications Corporation (NYSE:ETM) traded down 0.52% during trading on Wednesday, reaching $9.55. The company had a trading volume of 467,115 shares. The stock has a market capitalization of $388.80 million, a price-to-earnings ratio of 16.87 and a beta of 1.18. Entercom Communications Corporation has a 1-year low of $9.50 and a 1-year high of $16.55. The firm has a 50-day moving average of $10.11 and a 200-day moving average of $12.71.
About Entercom Communications Corporation
Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.
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