Equities analysts predict that Salem Media Group Inc (NASDAQ:SALM) will post $61.12 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Salem Media Group’s earnings, with estimates ranging from $61.00 million to $61.24 million. Salem Media Group posted sales of $63.80 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.2%. The firm is scheduled to announce its next earnings results on Tuesday, May 14th.
On average, analysts expect that Salem Media Group will report full-year sales of $254.18 million for the current year, with estimates ranging from $254.10 million to $254.26 million. For the next year, analysts forecast that the firm will report sales of $0.00. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Salem Media Group.
Salem Media Group (NASDAQ:SALM) last released its earnings results on Tuesday, March 12th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $67.19 million for the quarter, compared to the consensus estimate of $66.50 million. Salem Media Group had a negative net margin of 1.21% and a positive return on equity of 1.42%.
Several equities analysts have recently commented on SALM shares. ValuEngine upgraded shares of Salem Media Group from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Noble Financial upgraded shares of Salem Media Group from a “market perform” rating to an “outperform” rating and set a $3.50 price target for the company in a research report on Tuesday, January 15th. Zacks Investment Research upgraded shares of Salem Media Group from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Thursday, January 17th. TheStreet upgraded shares of Salem Media Group from a “d+” rating to a “c-” rating in a research report on Tuesday, March 12th. Finally, Singular Research restated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $3.25.
Shares of Salem Media Group stock traded down $0.07 during trading on Monday, hitting $2.05. 59,113 shares of the stock were exchanged, compared to its average volume of 36,520. The firm has a market capitalization of $53.68 million, a P/E ratio of 22.78 and a beta of 1.67. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.83. Salem Media Group has a 12 month low of $2.03 and a 12 month high of $6.25.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.065 per share. The ex-dividend date was Monday, March 18th. This represents a $0.26 annualized dividend and a dividend yield of 12.68%. Salem Media Group’s dividend payout ratio is currently 288.89%.
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Salem Media Group by 104.5% during the fourth quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after acquiring an additional 14,723 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Salem Media Group by 57.8% during the fourth quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock worth $78,000 after acquiring an additional 13,701 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Salem Media Group in the fourth quarter worth about $211,000. North Star Investment Management Corp. lifted its holdings in Salem Media Group by 1.7% in the fourth quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock worth $809,000 after purchasing an additional 6,531 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Salem Media Group by 55.9% in the fourth quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock worth $855,000 after purchasing an additional 146,564 shares during the period. Institutional investors and hedge funds own 25.44% of the company’s stock.
About Salem Media Group
Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
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