Entercom Communications Corp. (ETM) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.08. The company posted revenue of $96.10 million in the period, compared to analysts expectations of $93.27 million. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.
Entercom Communications Corp. opened for trading at $11.21 and hit $11.35 on the upside on Wednesday, eventually ending the session at $11.27, with a gain of 0.36% or 0.04 points. The heightened volatility saw the trading volume jump to 30,248 shares. Company has a market cap of $450 M.
In a different news, on Mar 18, 2016, Andrew P Iv Sutor (Sr. Vice Pres. & Secretary) sold 5,000 shares at $11.33 per share price. According to the SEC, on Mar 14, 2016, Stephen F Fisher (Exec. VP and CFO) sold 25,000 shares at $11.58 per share price. On Aug 10, 2015, David J Field (CEO) purchased 10,000 shares at $10.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Entercom Communications Corp. is a radio broadcasting company. The Company operates over 125 radio stations in 26 markets including San Francisco Atlanta Boston Miami Seattle San Diego Denver Portland Sacramento Kansas City Indianapolis Milwaukee Austin Norfolk Buffalo New Orleans Memphis Providence Greensboro Greenville/Spartanburg Rochester Madison Wichita Wilkes-Barre/Scranton Springfield (MA) and Gainesville/Ocala. Its stations are classified by their format such as news talk classic rock adult contemporary alternative and country among others. A station’s format enables it to target specific segments of listeners sharing certain demographics. Advertisers and stations use data published by audience measuring services to estimate how many people within particular geographical markets and demographics listen to specific stations.