Entravision Communications (NYSE:EVC) Shares Gap Up - Should You Buy?

Key Points

• Entravision shares opened higher, rising from a previous close of $8.07 to $8.45 before trading at $8.11, with the company valued at approximately $746 million.
• Analyst sentiment remains weak: MarketBeat reports an average “Sell” rating, despite one upgrade from “Hold” to “Buy.” The stock also carries a high P/E ratio of 807.61.
• The company beat quarterly expectations, reporting $0.19 in EPS versus the $0.10 consensus and $227.9 million in revenue versus $121.49 million expected. Entravision declared a $0.05 quarterly dividend, while a director sold more than 324,000 shares.

Entravision Communications Corporation (NYSE:EVC - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $8.07, but opened at $8.45. Entravision Communications shares last traded at $8.11, with a volume of 46,029 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Entravision Communications from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Entravision Communications in a report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Entravision Communications presently has an average rating of "Sell".

Entravision Communications Trading Up 0.2%

The company has a market cap of $746.16 million, a PE ratio of 807.61 and a beta of 1.72. The business has a 50 day simple moving average of $10.81 and a two-hundred day simple moving average of $6.97. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.64.

Entravision Communications (NYSE:EVC - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.09. The business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $121.49 million. Entravision Communications had a return on equity of 6.98% and a net margin of 0.62%.

Entravision Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 16th. Entravision Communications's dividend payout ratio (DPR) is presently 2,000.00%.

Insider Buying and Selling

In other Entravision Communications news, Director Paul A. Zevnik sold 324,686 shares of Entravision Communications stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $9.67, for a total value of $3,139,713.62. Following the completion of the sale, the director owned 2,107,582 shares in the company, valued at $20,380,317.94. The trade was a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entravision Communications

Several hedge funds have recently modified their holdings of the stock. IMC Chicago LLC acquired a new position in Entravision Communications during the first quarter worth approximately $30,000. Flower City Capital purchased a new stake in shares of Entravision Communications during the 2nd quarter valued at $137,000. California State Teachers Retirement System grew its stake in shares of Entravision Communications by 237.7% during the 2nd quarter. California State Teachers Retirement System now owns 11,371 shares of the company's stock valued at $148,000 after buying an additional 8,004 shares during the period. StoneX Group Inc. acquired a new stake in shares of Entravision Communications during the 4th quarter worth $35,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Entravision Communications by 86.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company's stock worth $29,000 after buying an additional 5,702 shares during the last quarter. 69.46% of the stock is owned by institutional investors and hedge funds.

Entravision Communications Company Profile

Entravision Communications Corporation NYSE: EVC is a diversified Spanish-language media and advertising company headquartered in Santa Monica, California. The company develops and distributes multimedia content tailored to Hispanic audiences across the United States, leveraging a combination of traditional broadcasting and digital platforms to reach consumers and marketers seeking to engage this fast-growing demographic.

In its broadcasting segment, Entravision owns and operates more than 50 television stations affiliated primarily with leading Spanish-language networks, as well as over 40 radio stations in key U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source