Zacks: Brokerages Anticipate Salem Media Group Inc (SALM) Will Post Earnings of -$0.02 Per Share

Equities analysts expect that Salem Media Group Inc (NASDAQ:SALM) will report ($0.02) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Salem Media Group’s earnings. The highest EPS estimate is $0.04 and the lowest is ($0.08). Salem Media Group posted earnings per share of $0.03 during the same quarter last year, which would suggest a negative year over year growth rate of 166.7%. The business is scheduled to report its next earnings results on Tuesday, May 14th.

On average, analysts expect that Salem Media Group will report full year earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.14. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Salem Media Group.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.08). The company had revenue of $67.19 million for the quarter, compared to analysts’ expectations of $66.50 million. Salem Media Group had a positive return on equity of 1.42% and a negative net margin of 1.21%.

Several equities analysts recently issued reports on SALM shares. Noble Financial raised shares of Salem Media Group from a “market perform” rating to an “outperform” rating and set a $3.50 price objective on the stock in a report on Tuesday, January 15th. Zacks Investment Research raised shares of Salem Media Group from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Tuesday, January 29th. ValuEngine raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a report on Monday, February 4th. TheStreet raised shares of Salem Media Group from a “d+” rating to a “c-” rating in a report on Tuesday, March 12th. Finally, Singular Research reissued a “buy” rating on shares of Salem Media Group in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.25.

A number of hedge funds have recently modified their holdings of SALM. Dimensional Fund Advisors LP increased its holdings in Salem Media Group by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock valued at $4,358,000 after buying an additional 57,252 shares during the period. North Star Investment Management Corp. increased its holdings in Salem Media Group by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock valued at $809,000 after buying an additional 6,531 shares during the period. Acadian Asset Management LLC increased its holdings in Salem Media Group by 57.8% during the fourth quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after buying an additional 13,701 shares during the period. Bank of New York Mellon Corp grew its holdings in Salem Media Group by 104.5% in the fourth quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after purchasing an additional 14,723 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Salem Media Group in the fourth quarter worth $211,000. 25.44% of the stock is currently owned by institutional investors.

SALM stock traded down $0.07 during trading on Friday, hitting $2.05. 59,113 shares of the company’s stock traded hands, compared to its average volume of 36,520. The firm has a market cap of $53.68 million, a price-to-earnings ratio of 22.78 and a beta of 1.67. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.06. Salem Media Group has a 1 year low of $2.03 and a 1 year high of $6.25.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 19th were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 12.68%. The ex-dividend date was Monday, March 18th. Salem Media Group’s payout ratio is 288.89%.

Salem Media Group Company Profile

Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

Read More: Why do companies issue convertible shares?

Get a free copy of the Zacks research report on Salem Media Group (SALM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.