The stock of Entercom Communications Corp. (NYSE:ETM) is now priced at $1.61 and the shares are -0.02 points down or -1.23% lower compared to its previous closing price of $1.63. The stock had 1.013 million contracts set over the past session. ETM shares’ daily volume is compared to its average trading volume at 1.588 million shares. However, it has a float of 113 million and although its performance was 4.55% over the week, it’s one to watch. Analysts have given the ETM stock a yearly average price target of $1.8 per share. It means the stock’s upside potential is 11.8% with the ETM share price recently placing at $1.56 to $1.6899. However, some brokerage firms have priced the stock below the average, including one that has called $1.
The shorts are running away from the Entercom Communications Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ETM shares have declined. Short interest in the stock represents just 8.47% of its float, but the volume has dropped by 0.
In the last trading session, Entercom Communications Corp. (NYSE:ETM) raised by $0.07 over the week and gained $0.21 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.22. The stock recorded its established 52-week high on 12/18/19.
Since 04/06/20, the stock has traded to a low of $0.75 at 114.67%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.62. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Entercom Communications Corp.’s two-week RSI is 53.95. This suggests that the stock is neutral at the moment and that ETM shares’ price movement remains stable. The stochastic readings are equally revealing at 45.34% meaning the ETM share price is currently in neutral territory.
The technical chart shows that the ETM stock will likely settle at between $1.6799 and $1.7499 per share. However, if the stock dips below $1.55, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.4901.
Currently, the stock is trading in the green of MACD, with a reading of 0.0333. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at B. Riley FBR cut their recommendation for ETM from Buy to Neutral in April 07 review while maintai their target price of $4.50 to $1. Wells Fargo analysts see the stock as a Market Perform in a flash note released to investors on September 24 initiating covering the stock. B. Riley FBR analysts see the stock as Buy when the analysts initiated the share price coverage on April 18, placing it at $7.75.
The average rating for the ETM equity is 2.8 and is currently gathering a bullish momentum. Of 5 analysts tracking Entercom Communications Corp. polled by Reuters, 3 rated ETM as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ETM stock price is 3.66X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 96.5. Entercom Communications Corp. has its P/E ratio at 0.3, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Entercom Communications Corp. (NYSE:ETM) will decrease by about -99.85%, which will see them reach $265 million. The company’s full-year revenues are, however, expected to diminish by about -28.86%, down from $1490 million to $1060 million. ETM’s expected adjusted earnings should drop almost -127.59% to end up at -$0.08 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -131.25% to record -$0.3/share.