The stock of Entercom Communications Corp. (NYSE:ETM) hit a new 52-week high and has $16.91 target or 7.00% above today’s $15.80 share price. The 7 months bullish chart indicates low risk for the $645.81M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $16.91 price target is reached, the company will be worth $45.21M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 37,249 shares traded hands. Entercom Communications Corp. (NYSE:ETM) has risen 39.01% since April 22, 2016 and is uptrending. It has outperformed by 33.60% the S&P500.
Analysts await Entercom Communications Corp. (NYSE:ETM) to report earnings on February, 9. They expect $0.22 earnings per share, down 33.33% or $0.11 from last year’s $0.33 per share. ETM’s profit will be $8.99 million for 17.95 P/E if the $0.22 EPS becomes a reality. After $0.24 actual earnings per share reported by Entercom Communications Corp. for the previous quarter, Wall Street now forecasts -8.33% negative EPS growth.
Entercom Communications Corp. (NYSE:ETM) Ratings Coverage
Out of 2 analysts covering Entercom Communications (NYSE:ETM), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Entercom Communications has been the topic of 2 analyst reports since August 18, 2015 according to StockzIntelligence Inc. On Tuesday, August 18 the stock rating was upgraded by Wells Fargo to “Outperform”. The rating was initiated by Stephens with “Equal-Weight” on Friday, December 11.
According to Zacks Investment Research, “Entercom Communications is the fourth largest radio broadcasting company in the United States. The company has built a highly consolidated portfolio of radio stations concentrated primarily in top 50 markets with above average growth characteristics. The company’s portfolio of radio stations is geographically diverse and offers a wide variety of programming formats. The company believes that geographic diversity will reduce the effect of economic downturn, while wide range of programming formats lessens the impact of changes in listening preferences.”
Insitutional Activity: The institutional sentiment decreased to 1.42 in 2016 Q2. Its down 0.29, from 1.71 in 2016Q1. The ratio worsened, as 6 funds sold all Entercom Communications Corp. shares owned while 25 reduced positions. 16 funds bought stakes while 37 increased positions. They now own 18.31 million shares or 3.09% more from 17.76 million shares in 2016Q1.
Blackrock Grp Incorporated accumulated 45,301 shares or 0% of the stock. Pnc Financial Gru Inc holds 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM) for 212 shares. Clear Harbor Asset Mgmt Ltd Llc accumulated 73,733 shares or 0.22% of the stock. Teacher Retirement Sys Of Texas has 0% invested in the company for 3,169 shares. Voya Invest Management Lc accumulated 18,452 shares or 0% of the stock. Amer Group Inc Inc reported 14,942 shares or 0% of all its holdings. State Street last reported 0% of its portfolio in the stock. Moreover, Globeflex L P has 0.14% invested in Entercom Communications Corp. (NYSE:ETM) for 38,409 shares. Nordea Invest reported 131,900 shares or 0.01% of all its holdings. Jpmorgan Chase And last reported 0.01% of its portfolio in the stock. Moreover, Fifth Third National Bank & Trust has 0% invested in Entercom Communications Corp. (NYSE:ETM) for 2,078 shares. Blackrock Japan, a Japan-based fund reported 1,604 shares. Chicago Equity Limited Company owns 25,780 shares or 0.01% of their US portfolio. Blackrock Lc holds 0% or 77,206 shares in its portfolio. Evercore Wealth Mgmt Ltd owns 3,000 shares or 0% of their US portfolio.
Insider Transactions: Since November 15, 2016, the stock had 0 insider buys, and 3 sales for $942,930 net activity. The insider SUTOR ANDREW P IV sold $106,974. The insider KRAMER LOUISE C sold 44,613 shares worth $684,342. FISHER STEPHEN F sold $151,614 worth of Entercom Communications Corp. (NYSE:ETM) on Monday, November 21.
More recent Entercom Communications Corp. (NYSE:ETM) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Also Businesswire.com published the news titled: “Entercom Communications Corp. Announces Bank Meeting and Proposed Debt Refinancing” on October 17, 2016. Moodys.com‘s news article titled: “Moody’s upgrades Entercom Communications to B1 from B2; outlook remains stable” with publication date: May 11, 2016 was also an interesting one.
ETM Company Profile
Entercom Communications Corp., incorporated on October 21, 1968, is a radio broadcasting company. The Firm has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Firm operates through the radio broadcasting segment. The Firm sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths. The Firm has both frequency modulation (FM) and amplitude modulation (AM) radio stations.
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