Brokerages Anticipate Entercom Communications Corporation (ETM) Will Announce Quarterly Sales of $120.22 Million

Wall Street brokerages expect that Entercom Communications Corporation (NYSE:ETM) will announce $120.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Entercom Communications Corporation’s earnings, with the highest sales estimate coming in at $121.44 million and the lowest estimate coming in at $119.00 million. Entercom Communications Corporation posted sales of $120.48 million in the same quarter last year, which suggests a negative year over year growth rate of 0.2%. The firm is scheduled to announce its next earnings report before the market opens on Friday, July 28th.

On average, analysts expect that Entercom Communications Corporation will report full year sales of $120.22 million for the current financial year, with estimates ranging from $463.60 million to $466.90 million. For the next fiscal year, analysts expect that the firm will report sales of $478.51 million per share. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Entercom Communications Corporation.

Entercom Communications Corporation (NYSE:ETM) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Entercom Communications Corporation had a return on equity of 8.79% and a net margin of 5.27%. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $97.01 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Noble Financial restated a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th. TheStreet downgraded shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Finally, ValuEngine downgraded shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.

ILLEGAL ACTIVITY WARNING: “Brokerages Anticipate Entercom Communications Corporation (ETM) Will Announce Quarterly Sales of $120.22 Million” was originally posted by BNB Daily and is owned by of BNB Daily. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this story can be read at https://www.baseball-news-blog.com/2017/08/14/brokerages-anticipate-entercom-communications-corporation-etm-will-announce-quarterly-sales-of-120-22-million-updated-updated-2-updated.html.

Shares of Entercom Communications Corporation (NYSE ETM) traded up 0.777% on Wednesday, hitting $9.725. The company’s stock had a trading volume of 94,837 shares. Entercom Communications Corporation has a one year low of $9.55 and a one year high of $16.55. The firm has a market cap of $395.92 million, a price-to-earnings ratio of 17.182 and a beta of 1.18. The stock has a 50-day moving average price of $10.14 and a 200 day moving average price of $12.76.

In other Entercom Communications Corporation news, Chairman Joseph M. Field purchased 135,832 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was bought at an average price of $9.73 per share, with a total value of $1,321,645.36. Following the transaction, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at approximately $9,796,592.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Joseph M. Field purchased 4,793 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $9.95 per share, with a total value of $47,690.35. Following the transaction, the chairman now directly owns 1,006,844 shares in the company, valued at $10,018,097.80. The disclosure for this purchase can be found here. Insiders purchased a total of 583,087 shares of company stock valued at $5,775,962 in the last quarter. 32.57% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Aperio Group LLC purchased a new stake in Entercom Communications Corporation during the second quarter valued at about $134,000. Good Life Advisors LLC purchased a new stake in Entercom Communications Corporation during the first quarter valued at about $189,000. Bowling Portfolio Management LLC purchased a new stake in Entercom Communications Corporation during the first quarter valued at about $193,000. American International Group Inc. boosted its stake in Entercom Communications Corporation by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock valued at $229,000 after buying an additional 1,065 shares during the period. Finally, Verity Asset Management Inc. purchased a new stake in Entercom Communications Corporation during the first quarter valued at about $231,000. 50.02% of the stock is owned by institutional investors.

Entercom Communications Corporation Company Profile

Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.

Get a free copy of the Zacks research report on Entercom Communications Corporation (ETM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Entercom Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply