$318.43 Million in Sales Expected for Entercom Communications (ETM) This Quarter

Equities research analysts expect Entercom Communications (NYSE:ETM) to report $318.43 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Entercom Communications’ earnings. The lowest sales estimate is $316.85 million and the highest is $320.00 million. Entercom Communications posted sales of $97.45 million during the same quarter last year, which would indicate a positive year over year growth rate of 226.8%. The business is expected to announce its next earnings results on Monday, May 14th.

According to Zacks, analysts expect that Entercom Communications will report full year sales of $1.54 billion for the current year. For the next fiscal year, analysts expect that the firm will post sales of $1.54 billion per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Entercom Communications.

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Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Thursday, March 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). The firm had revenue of $246.61 million for the quarter, compared to analysts’ expectations of $276.82 million. Entercom Communications had a net margin of 39.55% and a return on equity of 0.08%. The firm’s revenue was up 98.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS.

A number of analysts recently commented on the company. ValuEngine cut Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, January 29th. Finally, Noble Financial reiterated a “buy” rating on shares of Entercom Communications in a research report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.00.

Entercom Communications stock traded up $0.20 during mid-day trading on Friday, reaching $10.45. 1,421,083 shares of the stock traded hands, compared to its average volume of 2,270,280. The stock has a market cap of $1,335.91, a PE ratio of -23.22 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.02 and a current ratio of 2.02. Entercom Communications has a 12-month low of $9.25 and a 12-month high of $13.60.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is presently -80.00%.

In related news, Chairman Joseph M. Field purchased 100,000 shares of Entercom Communications stock in a transaction on Friday, March 9th. The stock was acquired at an average price of $9.99 per share, for a total transaction of $999,000.00. Following the completion of the transaction, the chairman now directly owns 3,971,897 shares in the company, valued at approximately $39,679,251.03. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Joseph M. Field purchased 640,000 shares of Entercom Communications stock in a transaction on Monday, March 26th. The stock was bought at an average price of $9.59 per share, with a total value of $6,137,600.00. Following the transaction, the chairman now owns 4,971,897 shares of the company’s stock, valued at $47,680,492.23. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,580,125 shares of company stock valued at $25,122,056. 10.19% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new stake in Entercom Communications in the fourth quarter worth about $140,000. Amalgamated Bank purchased a new stake in Entercom Communications in the fourth quarter worth about $185,000. AXA increased its position in Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after buying an additional 5,200 shares in the last quarter. Ellington Management Group LLC purchased a new stake in Entercom Communications in the fourth quarter worth about $222,000. Finally, Clear Harbor Asset Management LLC increased its position in Entercom Communications by 46.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 22,707 shares of the company’s stock worth $245,000 after buying an additional 7,174 shares in the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.

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Entercom Communications Company Profile

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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