Entercom Communications (NYSE:ETM) Receives New Coverage from Analysts at B. Riley

B. Riley assumed coverage on shares of Entercom Communications (NYSE:ETM) in a research report sent to investors on Thursday, April 18th, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $7.75 target price on the stock.

A number of other analysts have also commented on the company. TheStreet lowered Entercom Communications from a c rating to a d+ rating in a report on Friday, March 29th. boosted their price target on Entercom Communications to $1.34 and gave the company a buy rating in a report on Wednesday, February 13th. boosted their price target on Entercom Communications to $1.34 and gave the company a buy rating in a report on Wednesday, February 13th. Finally, ValuEngine lowered Entercom Communications from a buy rating to a hold rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $5.95.

Shares of Entercom Communications stock traded down $0.19 during trading on Thursday, reaching $6.53. The stock had a trading volume of 1,322,345 shares, compared to its average volume of 1,450,205. The firm has a market cap of $952.73 million, a price-to-earnings ratio of 7.77 and a beta of 1.21. Entercom Communications has a 52 week low of $5.16 and a 52 week high of $8.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 3.13.

Entercom Communications (NYSE:ETM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $309.01 million for the quarter, compared to analyst estimates of $309.30 million. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. Entercom Communications’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts expect that Entercom Communications will post 0.98 EPS for the current year.

In related news, Chairman Joseph M. Field bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were acquired at an average price of $6.22 per share, for a total transaction of $622,000.00. Following the completion of the acquisition, the chairman now owns 26,378 shares of the company’s stock, valued at approximately $164,071.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph M. Field bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of $5.25 per share, for a total transaction of $157,500.00. Following the acquisition, the chairman now directly owns 26,378 shares of the company’s stock, valued at approximately $138,484.50. The disclosure for this purchase can be found here. Insiders have purchased 830,000 shares of company stock worth $4,980,500 in the last quarter. 14.04% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETM. Hsbc Holdings PLC raised its stake in Entercom Communications by 6.1% in the fourth quarter. Hsbc Holdings PLC now owns 26,403 shares of the company’s stock valued at $151,000 after buying an additional 1,523 shares during the period. Rhumbline Advisers raised its stake in Entercom Communications by 0.8% in the first quarter. Rhumbline Advisers now owns 184,846 shares of the company’s stock valued at $970,000 after buying an additional 1,556 shares during the period. Great West Life Assurance Co. Can raised its stake in Entercom Communications by 8.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 24,481 shares of the company’s stock valued at $133,000 after buying an additional 1,821 shares during the period. Nisa Investment Advisors LLC raised its stake in Entercom Communications by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 92,776 shares of the company’s stock valued at $530,000 after buying an additional 2,046 shares during the period. Finally, Legal & General Group Plc raised its stake in Entercom Communications by 10.9% in the fourth quarter. Legal & General Group Plc now owns 22,475 shares of the company’s stock valued at $128,000 after buying an additional 2,212 shares during the period. Institutional investors and hedge funds own 83.25% of the company’s stock.

Entercom Communications Company Profile

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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