Entravision Communications Corporation (EVC) Shares Up 3.9% After Dividend Announcement
Entravision Communications Corporation (NYSE:EVC)’s share price shot up 3.9% on Tuesday after the company announced a dividend. The stock traded as high as $5.85 and last traded at $5.30. 1,251,135 shares traded hands during trading, an increase of 281% from the average session volume of 328,508 shares. The stock had previously closed at $5.10.
The newly announced dividend which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 14th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $0.20 annualized dividend and a yield of 3.51%. Entravision Communications Corporation’s payout ratio is currently 10.75%.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine upgraded shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Noble Financial restated a “buy” rating on shares of Entravision Communications Corporation in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Entravision Communications Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Macquarie reissued a “hold” rating and issued a $7.00 price target on shares of Entravision Communications Corporation in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.00.
The stock has a market cap of $479.21, a price-to-earnings ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.70 and a quick ratio of 2.70.
Entravision Communications Corporation (NYSE:EVC) last released its earnings results on Thursday, November 2nd. The company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $1.69. Entravision Communications Corporation had a net margin of 31.96% and a return on equity of 91.12%. The company had revenue of $70.60 million during the quarter, compared to the consensus estimate of $70.43 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The company’s revenue was up 8.1% on a year-over-year basis. sell-side analysts expect that Entravision Communications Corporation will post 0.09 earnings per share for the current fiscal year.
Entravision Communications Corporation announced that its board has initiated a share buyback plan on Wednesday, August 2nd that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CFO Christopher T. Young sold 14,616 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $5.55, for a total transaction of $81,118.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mario M. Carrera sold 70,702 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $5.63, for a total value of $398,052.26. The disclosure for this sale can be found here. Insiders own 20.72% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of EVC. Schwab Charles Investment Management Inc. boosted its position in shares of Entravision Communications Corporation by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 242,561 shares of the company’s stock worth $1,601,000 after purchasing an additional 1,615 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Entravision Communications Corporation by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 56,391 shares of the company’s stock worth $372,000 after purchasing an additional 1,772 shares in the last quarter. American International Group Inc. increased its position in shares of Entravision Communications Corporation by 7.1% during the first quarter. American International Group Inc. now owns 40,062 shares of the company’s stock worth $248,000 after acquiring an additional 2,650 shares during the period. Prudential Financial Inc. increased its position in shares of Entravision Communications Corporation by 17.1% during the first quarter. Prudential Financial Inc. now owns 19,904 shares of the company’s stock worth $123,000 after acquiring an additional 2,900 shares during the period. Finally, Tudor Investment Corp ET AL increased its position in shares of Entravision Communications Corporation by 7.7% during the first quarter. Tudor Investment Corp ET AL now owns 45,535 shares of the company’s stock worth $282,000 after acquiring an additional 3,245 shares during the period. 58.40% of the stock is currently owned by hedge funds and other institutional investors.
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About Entravision Communications Corporation
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.
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