Guggenheim Begins Coverage on Entercom Communications (ETM)

Stock analysts at Guggenheim assumed coverage on shares of Entercom Communications (NYSE:ETM) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.

A number of other brokerages also recently issued reports on ETM. ValuEngine downgraded shares of Entercom Communications from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Zacks Investment Research raised shares of Entercom Communications from a “strong sell” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Tuesday, July 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $8.38.

Shares of ETM stock opened at $6.49 on Thursday. Entercom Communications has a 52-week low of $6.02 and a 52-week high of $12.43. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $897.86 million, a price-to-earnings ratio of -14.42 and a beta of 0.76.

Entercom Communications (NYSE:ETM) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.40. Entercom Communications had a net margin of 21.63% and a negative return on equity of 1.62%. The business had revenue of $372.10 million during the quarter, compared to the consensus estimate of $379.40 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 197.7% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of ETM. Aperio Group LLC grew its position in Entercom Communications by 108.4% in the 2nd quarter. Aperio Group LLC now owns 25,031 shares of the company’s stock worth $189,000 after purchasing an additional 13,020 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Entercom Communications by 82.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 23,700 shares of the company’s stock worth $229,000 after purchasing an additional 10,700 shares in the last quarter. Abacus Planning Group Inc. bought a new stake in Entercom Communications in the 2nd quarter worth about $271,000. Unison Advisors LLC bought a new stake in Entercom Communications in the 2nd quarter worth about $317,000. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Entercom Communications by 149.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 37,273 shares of the company’s stock valued at $360,000 after acquiring an additional 22,354 shares during the period. 85.64% of the stock is owned by institutional investors and hedge funds.

About Entercom Communications

Entercom Communications Corp. operates as a radio broadcasting company in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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