Entravision Communication (EVC) Stock Price Down 19.2% Following Weak Earnings

Entravision Communication (NYSE:EVC) was down 19.2% during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $4.30 and last traded at $4.37. Approximately 1,340,115 shares changed hands during trading, an increase of 191% from the average daily volume of 460,338 shares. The stock had previously closed at $5.41.

The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $75.62 million. Entravision Communication had a net margin of 31.54% and a return on equity of 46.10%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.20 dividend on an annualized basis and a yield of 4.58%. Entravision Communication’s dividend payout ratio (DPR) is presently 11.56%.

A number of analysts have issued reports on the stock. Noble Financial set a $6.00 price target on shares of Entravision Communication and gave the stock a “buy” rating in a research note on Friday, August 3rd. ValuEngine upgraded shares of Entravision Communication from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research lowered shares of Entravision Communication from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $5.75.

In other Entravision Communication news, CFO Christopher T. Young sold 50,374 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $5.45, for a total transaction of $274,538.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 20.99% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Strs Ohio increased its stake in Entravision Communication by 9.8% during the second quarter. Strs Ohio now owns 128,800 shares of the company’s stock worth $644,000 after purchasing an additional 11,500 shares during the period. First Quadrant L P CA increased its stake in shares of Entravision Communication by 9.5% during the second quarter. First Quadrant L P CA now owns 150,505 shares of the company’s stock worth $753,000 after buying an additional 13,068 shares during the period. United Services Automobile Association increased its stake in shares of Entravision Communication by 16.8% during the second quarter. United Services Automobile Association now owns 94,542 shares of the company’s stock worth $473,000 after buying an additional 13,619 shares during the period. California Public Employees Retirement System increased its stake in shares of Entravision Communication by 7.8% during the second quarter. California Public Employees Retirement System now owns 195,838 shares of the company’s stock worth $979,000 after buying an additional 14,109 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Entravision Communication by 41.6% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 56,800 shares of the company’s stock worth $284,000 after buying an additional 16,700 shares during the period. Institutional investors own 62.11% of the company’s stock.

The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $468.22 million, a price-to-earnings ratio of 2.53 and a beta of 1.22.

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Entravision Communication Company Profile (NYSE:EVC)

Entravision Communications Corporation operates as a media company that reaches and engages Hispanics across media channels and advertising platforms primarily in the United States, Spain, Mexico, Argentina, and other Latin America countries. The company operates through three segments: Television Broadcasting, Radio Broadcasting, and Digital Media.

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