Entercom Communications (ETM) Cut to “D+” at TheStreet

TheStreet cut shares of Entercom Communications (NYSE:ETM) from a c rating to a d+ rating in a research note published on Friday, TheStreetRatingsTable reports.

A number of other analysts have also recently issued reports on the company. boosted their price objective on Entercom Communications to $1.34 and gave the company a buy rating in a research report on Wednesday, February 13th. boosted their price objective on Entercom Communications to $1.34 and gave the company a buy rating in a research report on Wednesday, February 13th. ValuEngine cut Entercom Communications from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Finally, Wolfe Research assumed coverage on Entercom Communications in a research report on Friday, December 7th. They set an outperform rating on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Entercom Communications presently has a consensus rating of Buy and an average price target of $5.59.

ETM opened at $5.38 on Friday. The company has a market cap of $762.78 million, a PE ratio of 6.40 and a beta of 1.07. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.40. Entercom Communications has a 1 year low of $5.16 and a 1 year high of $10.95.

Entercom Communications (NYSE:ETM) last released its quarterly earnings data on Friday, February 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The firm had revenue of $411.38 million for the quarter, compared to the consensus estimate of $410.00 million. Entercom Communications had a negative net margin of 24.71% and a positive return on equity of 4.40%. The business’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Wednesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is 42.86%.

In related news, Chairman Joseph M. Field purchased 400,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $6.17 per share, for a total transaction of $2,468,000.00. Following the completion of the transaction, the chairman now directly owns 26,378 shares of the company’s stock, valued at approximately $162,752.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph M. Field purchased 100,000 shares of the stock in a transaction on Monday, March 4th. The stock was bought at an average price of $6.23 per share, for a total transaction of $623,000.00. Following the completion of the transaction, the chairman now directly owns 26,378 shares of the company’s stock, valued at $164,334.94. The disclosure for this purchase can be found here. Insiders acquired 830,000 shares of company stock worth $4,980,500 over the last quarter. Company insiders own 10.19% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Entercom Communications by 13.7% in the third quarter. Vanguard Group Inc. now owns 10,797,194 shares of the company’s stock valued at $85,298,000 after acquiring an additional 1,302,280 shares during the period. Vanguard Group Inc boosted its stake in Entercom Communications by 13.7% in the third quarter. Vanguard Group Inc now owns 10,797,194 shares of the company’s stock worth $85,298,000 after purchasing an additional 1,302,280 shares in the last quarter. BlackRock Inc. boosted its stake in Entercom Communications by 2.5% in the fourth quarter. BlackRock Inc. now owns 9,058,940 shares of the company’s stock worth $51,727,000 after purchasing an additional 218,385 shares in the last quarter. Capital World Investors boosted its stake in Entercom Communications by 113.8% in the third quarter. Capital World Investors now owns 5,860,000 shares of the company’s stock worth $46,294,000 after purchasing an additional 3,119,199 shares in the last quarter. Finally, Sessa Capital IM L.P. boosted its stake in Entercom Communications by 6.1% in the third quarter. Sessa Capital IM L.P. now owns 5,200,000 shares of the company’s stock worth $41,080,000 after purchasing an additional 299,800 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

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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