Salem Media Group (SALM) Reaches New 12-Month Low at $3.95

Shares of Salem Media Group Inc (NASDAQ:SALM) hit a new 52-week low on Monday . The company traded as low as $3.95 and last traded at $4.40, with a volume of 312000 shares. The stock had previously closed at $4.50.

SALM has been the subject of a number of research reports. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a research report on Friday, November 10th. ValuEngine raised shares of Salem Media Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market capitalization of $106.62, a PE ratio of 10.73 and a beta of 1.15.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). The firm had revenue of $65.43 million during the quarter, compared to analysts’ expectations of $68.43 million. Salem Media Group had a net margin of 1.97% and a return on equity of 5.02%. equities research analysts anticipate that Salem Media Group Inc will post 0.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.065 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.12%. Salem Media Group’s dividend payout ratio (DPR) is presently 130.00%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Salem Media Group during the third quarter worth about $101,000. Cornerstone Capital Management Holdings LLC. raised its stake in Salem Media Group by 23.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after acquiring an additional 3,300 shares during the period. Teachers Advisors LLC raised its stake in Salem Media Group by 82.9% during the second quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock worth $154,000 after acquiring an additional 9,852 shares during the period. TIAA CREF Investment Management LLC raised its stake in Salem Media Group by 35.2% during the second quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock worth $210,000 after acquiring an additional 7,701 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Salem Media Group by 11.4% during the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after acquiring an additional 4,767 shares during the period. Hedge funds and other institutional investors own 30.32% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://sportsperspectives.com/2017/12/20/salem-media-group-salm-reaches-new-12-month-low-at-3-95.html.

Salem Media Group Company Profile

Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply