Entercom Communications (ETM) Now Covered by Analysts at Wolfe Research

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Wolfe Research started coverage on shares of Entercom Communications (NYSE:ETM) in a report issued on Friday, The Fly reports. The firm issued an outperform rating on the stock.

Several other brokerages have also commented on ETM. Zacks Investment Research lowered shares of Entercom Communications from a buy rating to a hold rating in a research note on Tuesday, August 21st. Guggenheim initiated coverage on shares of Entercom Communications in a report on Thursday, November 1st. They set a buy rating and a $8.50 price objective for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $8.42.

Shares of ETM traded up $0.06 during mid-day trading on Friday, hitting $6.46. 867,516 shares of the company’s stock were exchanged, compared to its average volume of 1,274,627. Entercom Communications has a twelve month low of $5.82 and a twelve month high of $11.70. The firm has a market cap of $912.15 million, a price-to-earnings ratio of -14.36 and a beta of 0.90. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.10.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). Entercom Communications had a return on equity of 0.14% and a net margin of 19.89%. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $378.00 million. During the same quarter last year, the company earned $0.09 EPS. The business’s revenue for the quarter was up 209.5% compared to the same quarter last year. As a group, research analysts predict that Entercom Communications will post 0.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 27th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Monday, November 26th. Entercom Communications’s dividend payout ratio is currently -80.00%.

In other news, Chairman Joseph M. Field acquired 400,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was acquired at an average cost of $6.53 per share, with a total value of $2,612,000.00. Following the acquisition, the chairman now owns 40,990 shares in the company, valued at $267,664.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph M. Field acquired 14,800 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were purchased at an average cost of $7.00 per share, with a total value of $103,600.00. Following the completion of the acquisition, the chairman now owns 40,990 shares in the company, valued at approximately $286,930. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 665,970 shares of company stock valued at $4,382,124. 32.57% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Entercom Communications by 13.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,797,194 shares of the company’s stock worth $85,298,000 after buying an additional 1,302,280 shares during the period. Teachers Advisors LLC boosted its holdings in Entercom Communications by 3.8% in the 3rd quarter. Teachers Advisors LLC now owns 250,087 shares of the company’s stock valued at $1,976,000 after purchasing an additional 9,118 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Entercom Communications by 31.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 78,502 shares of the company’s stock valued at $620,000 after purchasing an additional 18,722 shares during the period. Point72 Asset Management L.P. boosted its holdings in Entercom Communications by 58.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,300,100 shares of the company’s stock valued at $18,171,000 after purchasing an additional 852,200 shares during the period. Finally, Sessa Capital IM L.P. boosted its holdings in Entercom Communications by 6.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 5,200,000 shares of the company’s stock valued at $41,080,000 after purchasing an additional 299,800 shares during the period. 86.93% 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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