Entercom Communications Corporation (NYSE:ETM) released its quarterly earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07, Bloomberg Earnings reports. The company had revenue of $125 million for the quarter, compared to analysts’ expectations of $121.42 million. Entercom Communications Corporation had a return on equity of 8.52% and a net margin of 4.27%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share.
Shares of Entercom Communications Corporation (ETM) traded up 4.74% during trading on Tuesday, reaching $9.95. The company’s stock had a trading volume of 724,294 shares. The stock has a market cap of $405.08 million, a price-to-earnings ratio of 22.31 and a beta of 1.17. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $12.32. Entercom Communications Corporation has a 52-week low of $9.50 and a 52-week high of $16.55.
The firm also recently declared a dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio (DPR) is presently 66.67%.
In other news, Chairman Joseph M. Field purchased 219,073 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average cost of $10.07 per share, for a total transaction of $2,206,065.11. Following the completion of the transaction, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at approximately $10,138,919.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph M. Field purchased 4,793 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average price of $9.95 per share, for a total transaction of $47,690.35. Following the completion of the transaction, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at $10,018,097.80. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 583,087 shares of company stock worth $5,775,962. Corporate insiders own 32.57% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Entercom Communications Corporation by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 319,511 shares of the company’s stock valued at $4,569,000 after buying an additional 13,838 shares in the last quarter. American Century Companies Inc. raised its stake 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 valued at $3,231,000 after buying an additional 57,316 shares in the last quarter. LSV Asset Management raised its stake in Entercom Communications Corporation by 11.2% in the first quarter. LSV Asset Management now owns 93,632 shares of the company’s stock valued at $1,338,000 after buying an additional 9,400 shares in the last quarter. Eqis Capital Management Inc. boosted its position 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 last quarter. Finally, Bowling Portfolio Management LLC bought a new position in shares of Entercom Communications Corporation during the first quarter worth about $193,000. Institutional investors own 49.55% of the company’s stock.
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Several analysts recently commented on the company. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th. TheStreet cut Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Finally, ValuEngine cut Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
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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