Entercom Communications (ETM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Entercom Communications (NYSE:ETM) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “Entercom Communications is the fourth largest radio broadcasting company in the United States. The company has built a highly consolidated portfolio of radio stations concentrated primarily in top 50 markets with above average growth characteristics. The company’s portfolio of radio stations is geographically diverse and offers a wide variety of programming formats. The company believes that geographic diversity will reduce the effect of economic downturn, while wide range of programming formats lessens the impact of changes in listening preferences. “

Several other brokerages have also weighed in on ETM. ValuEngine lowered shares of Entercom Communications from a buy rating to a hold rating in a report on Friday, February 2nd. Noble Financial restated a buy rating on shares of Entercom Communications in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $12.00.

Entercom Communications (ETM) opened at $9.95 on Friday. Entercom Communications has a twelve month low of $9.40 and a twelve month high of $14.55. The firm has a market cap of $1,370.00, a P/E ratio of 3.89, a P/E/G ratio of 4.42 and a beta of 1.06. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.23.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings data on Thursday, March 8th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). Entercom Communications had a net margin of 39.55% and a return on equity of 0.15%. The business had revenue of $246.61 million during the quarter, compared to analyst estimates of $276.82 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 98.0% on a year-over-year basis. equities analysts predict that Entercom Communications will post 1.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.36 annualized dividend and a yield of 3.62%. Entercom Communications’s dividend payout ratio is currently 14.06%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new position in Entercom Communications in the fourth quarter valued at approximately $140,000. Amalgamated Bank acquired a new stake in Entercom Communications in the fourth quarter worth $185,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Entercom Communications in the third quarter worth $186,000. Voya Investment Management LLC raised its holdings in Entercom Communications by 14.0% in the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock worth $201,000 after purchasing an additional 2,383 shares during the period. Finally, AXA raised its holdings in Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after purchasing an additional 5,200 shares during the period.

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About Entercom Communications

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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