Brokerages Anticipate Salem Media Group Inc (SALM) to Post $0.02 Earnings Per Share

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Shares of Salem Media Group Inc (NASDAQ:SALM) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. Salem Media Group’s rating score has improved by 50% from three months ago as a result of a number of analysts’ ratings changes.

Zacks has also assigned Salem Media Group an industry rank of 93 out of 255 based on the ratings given to related companies.

A number of equities research analysts have recently weighed in on SALM shares. ValuEngine downgraded Salem Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded Salem Media Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. TheStreet lowered Salem Media Group from a “c” rating to a “d+” rating in a research note on Tuesday, August 21st. Finally, Noble Financial downgraded Salem Media Group from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Thursday, August 9th.

In related news, CEO Edward G. Atsinger III purchased 27,553 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $96,435.50. Following the purchase, the chief executive officer now owns 27,553 shares of the company’s stock, valued at $96,435.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 59.99% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SALM. First Wilshire Securities Management Inc. grew its stake in shares of Salem Media Group by 3.4% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 415,739 shares of the company’s stock worth $2,141,000 after buying an additional 13,554 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Salem Media Group by 470.8% in the 2nd quarter. Acadian Asset Management LLC now owns 23,701 shares of the company’s stock valued at $122,000 after purchasing an additional 19,549 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Salem Media Group by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,224,454 shares of the company’s stock worth $6,306,000 after acquiring an additional 22,729 shares in the last quarter. LMR Partners LLP bought a new position in shares of Salem Media Group during the 2nd quarter worth approximately $166,000. Finally, North Star Investment Management Corp. grew its position in Salem Media Group by 10.1% during the 3rd quarter. North Star Investment Management Corp. now owns 380,759 shares of the company’s stock worth $1,295,000 after purchasing an additional 35,034 shares during the last quarter. Hedge funds and other institutional investors own 28.96% of the company’s stock.

Shares of Salem Media Group stock opened at $3.00 on Wednesday. The stock has a market capitalization of $75.92 million, a P/E ratio of 13.64 and a beta of 1.11. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.07 and a quick ratio of 1.05. Salem Media Group has a 1 year low of $2.88 and a 1 year high of $6.50.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Wednesday, August 8th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.16). The company had revenue of $66.27 million during the quarter, compared to the consensus estimate of $65.65 million. Salem Media Group had a net margin of 7.98% and a return on equity of 1.90%. On average, research analysts forecast that Salem Media Group will post 0.23 earnings per share for the current year.

About Salem Media Group

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.

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