Entravision Communications (NYSE:EVC) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Entravision Communications (NYSE:EVC) from “hold” to “buy,” which helped lift the stock about 2.4% in Friday trading.
• The company recently reported better-than-expected quarterly results, with earnings per share of $0.13 versus a $0.10 estimate and revenue of $196.97 million, well above forecasts.
• Entravision’s shares were trading at $7.12, near their 52-week high of $8.35, while institutional ownership remained high at 69.46%.

Entravision Communications (NYSE:EVC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Entravision Communications Stock Up 2.4%

Shares of NYSE:EVC opened at $7.12 on Friday. The firm's 50 day moving average price is $3.41 and its 200 day moving average price is $3.06. The stock has a market cap of $654.30 million, a price-to-earnings ratio of -32.34 and a beta of 1.36. Entravision Communications has a fifty-two week low of $1.81 and a fifty-two week high of $8.35. The company has a quick ratio of 1.51, a current ratio of 1.40 and a debt-to-equity ratio of 2.19.

Entravision Communications (NYSE:EVC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $196.97 million for the quarter, compared to analysts' expectations of $121.49 million. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%.

Hedge Funds Weigh In On Entravision Communications

Several hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC purchased a new position in Entravision Communications in the first quarter valued at approximately $30,000. 3Chopt Investment Partners LLC purchased a new position in Entravision Communications in the first quarter valued at approximately $46,000. Hsbc Holdings PLC increased its stake in Entravision Communications by 24.0% in the fourth quarter. Hsbc Holdings PLC now owns 78,950 shares of the company's stock valued at $231,000 after purchasing an additional 15,299 shares during the last quarter. XTX Topco Ltd increased its stake in Entravision Communications by 78.0% in the fourth quarter. XTX Topco Ltd now owns 18,526 shares of the company's stock valued at $54,000 after purchasing an additional 8,120 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Entravision Communications in the fourth quarter valued at approximately $128,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

About Entravision Communications

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.