Salem Media Group Inc (SALM) Expected to Announce Quarterly Sales of $61.12 Million

Analysts expect Salem Media Group Inc (NASDAQ:SALM) to report $61.12 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Salem Media Group’s earnings, with estimates ranging from $61.00 million to $61.24 million. Salem Media Group reported sales of $63.80 million during the same quarter last year, which indicates a negative year over year growth rate of 4.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Salem Media Group will report full year sales of $254.18 million for the current year, with estimates ranging from $254.10 million to $254.26 million. For the next year, analysts forecast that the company will post sales of $0.00. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Salem Media Group.

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

Several research analysts have recently issued reports on SALM shares. Zacks Investment Research upgraded 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 Thursday, January 17th. Noble Financial reiterated a “buy” rating and set a $3.50 target price on shares of Salem Media Group in a research report on Thursday, January 31st. Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. TheStreet upgraded shares of Salem Media Group from a “d+” rating to a “c-” rating in a research report on Tuesday, March 12th. Finally, ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.25.

Shares of NASDAQ:SALM traded up $0.10 on Friday, hitting $2.56. 32,665 shares of the company were exchanged, compared to its average volume of 28,004. Salem Media Group has a one year low of $2.03 and a one year high of $6.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.83. The company has a market cap of $64.15 million, a price-to-earnings ratio of 28.39 and a beta of 1.68.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.26 annualized dividend and a dividend yield of 10.18%. Salem Media Group’s dividend payout ratio (DPR) is currently 288.89%.

Several institutional investors have recently modified their holdings of SALM. Bank of New York Mellon Corp boosted its position 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 valued at $60,000 after buying an additional 14,723 shares in the last quarter. Acadian Asset Management LLC boosted its position in Salem Media Group by 57.8% in 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 in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Salem Media Group in the fourth quarter valued at about $211,000. Shell Asset Management Co. acquired a new position in Salem Media Group in the third quarter valued at about $235,000. Finally, North Star Investment Management Corp. boosted its position in Salem Media Group by 1.7% in 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 in the last quarter. Institutional investors and hedge funds own 25.44% of the company’s stock.

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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