Macquarie Reiterates Hold Rating for Entravision Communications Corporation (EVC)

Entravision Communications Corporation (NYSE:EVC)‘s stock had its “hold” rating reissued by investment analysts at Macquarie in a research note issued on Monday, July 24th. They currently have a $7.00 price objective on the stock. Macquarie’s price objective would suggest a potential upside of 17.65% from the company’s current price.

EVC has been the subject of a number of other research reports. Zacks Investment Research raised shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 29th. Noble Financial reaffirmed a “buy” rating on shares of Entravision Communications Corporation in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.00.

Shares of Entravision Communications Corporation (EVC) traded up 2.59% on Monday, hitting $5.95. The stock had a trading volume of 370,815 shares. The company has a 50-day moving average of $6.50 and a 200-day moving average of $6.03. The company has a market cap of $537.99 million, a P/E ratio of 29.75 and a beta of 1.50. Entravision Communications Corporation has a 52-week low of $4.90 and a 52-week high of $7.89.

Entravision Communications Corporation (NYSE:EVC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $67.59 million. Entravision Communications Corporation had a return on equity of 10.05% and a net margin of 7.03%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts anticipate that Entravision Communications Corporation will post $0.15 EPS for the current fiscal year.

Entravision Communications Corporation announced that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in shares of Entravision Communications Corporation by 17.5% in the first quarter. American Century Companies Inc. now owns 6,072,286 shares of the company’s stock worth $37,648,000 after buying an additional 906,364 shares during the period. Wells Fargo & Company MN boosted its stake in Entravision Communications Corporation by 18.5% in the first quarter. Wells Fargo & Company MN now owns 1,105,744 shares of the company’s stock worth $6,856,000 after buying an additional 172,848 shares during the period. NJ State Employees Deferred Compensation Plan boosted its stake in Entravision Communications Corporation by 35.0% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the company’s stock worth $1,674,000 after buying an additional 70,000 shares during the period. Supplemental Annuity Collective Trust of NJ bought a new position in Entravision Communications Corporation during the first quarter valued at approximately $310,000. Finally, New Jersey Better Educational Savings Trust bought a new position in Entravision Communications Corporation during the first quarter valued at approximately $459,000. 63.66% of the stock is currently owned by institutional investors.

Entravision Communications Corporation Company Profile

Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.

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