Entercom Communications Corporation (NYSE:ETM) shares shot up 5.7% during trading on Monday . The company traded as high as $11.50 and last traded at $11.10. 1,831,457 shares changed hands during mid-day trading, an increase of 343% from the average session volume of 413,133 shares. The stock had previously closed at $10.50.

A number of brokerages have recently commented on ETM. BidaskClub raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st. Zacks Investment Research raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, ValuEngine downgraded shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.00.

The stock has a market capitalization of $452.42 million, a P/E ratio of 24.89 and a beta of 1.13. The company’s 50-day moving average price is $10.12 and its 200 day moving average price is $11.33.

Entercom Communications Corporation (NYSE:ETM) last announced its earnings results on Friday, July 28th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The company had revenue of $125.00 million during the quarter, compared to the consensus estimate of $121.42 million. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, analysts expect that Entercom Communications Corporation will post $0.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.10 annualized dividend and a dividend yield of 9.91%. Entercom Communications Corporation’s dividend payout ratio is currently 66.67%.

Several hedge funds have recently made changes to their positions in ETM. Tower Research Capital LLC TRC purchased a new stake in shares of Entercom Communications Corporation in the second quarter valued at about $122,000. Aperio Group LLC purchased a new stake in shares of Entercom Communications Corporation in the second quarter valued at about $134,000. Good Life Advisors LLC raised its holdings in shares of Entercom Communications Corporation by 6.3% in the second quarter. Good Life Advisors LLC now owns 14,290 shares of the company’s stock valued at $140,000 after purchasing an additional 842 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Entercom Communications Corporation in the second quarter valued at about $159,000. Finally, Zacks Investment Management purchased a new stake in shares of Entercom Communications Corporation in the second quarter valued at about $186,000. Institutional investors own 55.55% of the company’s stock.

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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.

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