$65.09 Million in Sales Expected for Salem Media Group Inc (NASDAQ:SALM) This Quarter

Wall Street analysts forecast that Salem Media Group Inc (NASDAQ:SALM) will announce $65.09 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Salem Media Group’s earnings, with the lowest sales estimate coming in at $64.28 million and the highest estimate coming in at $65.90 million. Salem Media Group posted sales of $66.27 million in the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

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

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

SALM has been the topic of a number of recent analyst reports. TheStreet raised shares of Salem Media Group from a “d+” rating to a “c-” rating in a research report on Tuesday, March 12th. Noble Financial set a $4.00 price target on shares of Salem Media Group and gave the company a “buy” rating in a research report on Monday, May 13th. Zacks Investment Research raised shares of Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 price target on the stock in a research report on Tuesday, May 14th. Finally, Singular Research reissued a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Salem Media Group has a consensus rating of “Buy” and an average price target of $3.25.

In related news, CFO Evan D. Masyr sold 11,970 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total transaction of $25,256.70. Following the transaction, the chief financial officer now owns 23,068 shares of the company’s stock, valued at $48,673.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 45,681 shares of company stock worth $104,355 in the last ninety days. 55.66% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in SALM. Bank of New York Mellon Corp boosted its stake in 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 buying an additional 14,723 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Salem Media Group in the 1st quarter valued at $72,000. Acadian Asset Management LLC boosted its stake in shares of Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after purchasing an additional 13,701 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Salem Media Group in the 4th quarter valued at $211,000. Finally, Ancora Advisors LLC boosted its stake in shares of Salem Media Group by 55.9% in the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock valued at $855,000 after purchasing an additional 146,564 shares in the last quarter. 25.06% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ SALM opened at $2.45 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $62.58 million, a price-to-earnings ratio of 27.22 and a beta of 1.45. Salem Media Group has a 12-month low of $1.85 and a 12-month high of $6.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date is Thursday, June 13th. Salem Media Group’s dividend payout ratio (DPR) is currently 288.89%.

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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