Zacks: Brokerages Expect Salem Media Group Inc (NASDAQ:SALM) Will Announce Earnings of $0.06 Per Share

Analysts expect Salem Media Group Inc (NASDAQ:SALM) to report earnings per share of $0.06 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Salem Media Group’s earnings. Salem Media Group also reported earnings of $0.06 per share in the same quarter last year. The firm is scheduled to issue its next earnings results after the market closes on Thursday, August 8th.

On average, analysts expect that Salem Media Group will report full-year earnings of $0.13 per share for the current fiscal year. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Salem Media Group.

Salem Media Group (NASDAQ:SALM) last released its earnings results on Friday, May 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Salem Media Group had a positive return on equity of 1.21% and a negative net margin of 1.43%. The company had revenue of $60.47 million for the quarter, compared to analyst estimates of $61.12 million.

A number of research firms recently weighed in on SALM. TheStreet cut shares of Salem Media Group from a “c-” rating to a “d” rating in a research report on Monday, April 15th. ValuEngine raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research report on Tuesday, May 14th. Finally, Noble Financial set a $4.00 price objective on shares of Salem Media Group and gave the stock a “buy” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $3.25.

In other news, CFO Evan D. Masyr sold 11,970 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total transaction of $25,256.70. Following the completion of the transaction, the chief financial officer now owns 23,068 shares in the company, valued at approximately $48,673.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 45,881 shares of company stock valued at $104,855. Insiders own 55.66% of the company’s stock.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Salem Media Group by 104.5% during the fourth quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after acquiring an additional 14,723 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Salem Media Group in the fourth quarter valued at about $211,000. Finally, Bailard Inc. bought a new position in shares of Salem Media Group in the first quarter valued at about $72,000. Institutional investors own 24.72% of the company’s stock.

Shares of NASDAQ:SALM traded down $0.02 during midday trading on Monday, reaching $2.06. 3,255 shares of the company traded hands, compared to its average volume of 81,659. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 1.31. Salem Media Group has a 12 month low of $1.81 and a 12 month high of $5.50. The company has a market capitalization of $54.46 million, a price-to-earnings ratio of 22.89 and a beta of 1.54. The business’s fifty day moving average price is $2.28.

Salem Media Group Company Profile

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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