Zacks: Brokerages Expect Entercom Communications Corp. (NYSE:ETM) to Post $0.11 EPS

Equities research analysts predict that Entercom Communications Corp. (NYSE:ETM) will report earnings of $0.11 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Entercom Communications’ earnings. Entercom Communications reported earnings of $0.28 per share in the same quarter last year, which would indicate a negative year over year growth rate of 60.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Friday, November 6th.

On average, analysts expect that Entercom Communications will report full-year earnings of $0.01 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $0.37 per share. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Entercom Communications.

Entercom Communications (NYSE:ETM) last announced its earnings results on Friday, August 7th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $175.87 million for the quarter, compared to the consensus estimate of $201.00 million. Entercom Communications had a negative net margin of 40.24% and a positive return on equity of 2.91%.

ETM has been the topic of a number of research reports. Zacks Investment Research lowered shares of Entercom Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. ValuEngine raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Entercom Communications presently has a consensus rating of “Hold” and a consensus price target of $2.63.

Shares of ETM traded up $0.17 during trading hours on Friday, reaching $1.70. 78,673 shares of the company traded hands, compared to its average volume of 1,431,822. The company’s fifty day moving average price is $1.51 and its two-hundred day moving average price is $1.47. The company has a market capitalization of $211.15 million, a price-to-earnings ratio of -0.38 and a beta of 1.50. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 2.23. Entercom Communications has a 12 month low of $0.75 and a 12 month high of $5.22.

In other Entercom Communications news, insider Robert E. Philips acquired 37,037 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $1.36 per share, with a total value of $50,370.32. Following the completion of the purchase, the insider now directly owns 140,330 shares of the company’s stock, valued at approximately $190,848.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Field acquired 96,754 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $140,293.30. Following the purchase, the chief executive officer now directly owns 1,329,878 shares of the company’s stock, valued at $1,928,323.10. The disclosure for this purchase can be found here. Insiders have purchased 341,101 shares of company stock worth $504,409 in the last three months. 16.37% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in shares of Entercom Communications by 151.4% in the 1st quarter. Deutsche Bank AG now owns 150,468 shares of the company’s stock valued at $257,000 after buying an additional 90,614 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Entercom Communications by 1,285.5% during the 2nd quarter. AQR Capital Management LLC now owns 344,305 shares of the company’s stock worth $475,000 after acquiring an additional 319,455 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Entercom Communications by 9.3% during the 1st quarter. Nuveen Asset Management LLC now owns 1,184,640 shares of the company’s stock worth $2,026,000 after acquiring an additional 101,197 shares in the last quarter. Creative Planning bought a new stake in shares of Entercom Communications during the 2nd quarter worth about $359,000. Finally, Two Sigma Investments LP boosted its stake in shares of Entercom Communications by 167.8% during the 1st quarter. Two Sigma Investments LP now owns 267,668 shares of the company’s stock worth $458,000 after acquiring an additional 167,708 shares in the last quarter. Hedge funds and other institutional investors own 53.68% of the company’s stock.

About Entercom Communications

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 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 April 23, 2020, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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