Salem Media Group Inc (NASDAQ:SALM) Expected to Announce Earnings of $0.05 Per Share

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Equities research analysts expect Salem Media Group Inc (NASDAQ:SALM) to report earnings of $0.05 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Salem Media Group’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Salem Media Group posted earnings of $0.06 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Salem Media Group will report full year earnings of $0.14 per share for the current fiscal year, with EPS estimates ranging from $0.13 to $0.14. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Salem Media Group.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Friday, May 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $60.47 million during the quarter, compared to analysts’ expectations of $61.12 million. Salem Media Group had a negative net margin of 1.43% and a positive return on equity of 1.21%.

Several brokerages have commented on SALM. Zacks Investment Research upgraded shares of Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 target price for the company in a research report on Tuesday, May 14th. Singular Research restated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. TheStreet cut shares of Salem Media Group from a “c-” rating to a “d” rating in a research report on Monday, April 15th. Finally, Noble Financial set a $4.00 price objective on shares of Salem Media Group and gave the company a “buy” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Salem Media Group presently has a consensus rating of “Buy” and a consensus price target of $3.25.

In related news, CFO Evan D. Masyr sold 11,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total value of $25,256.70. Following the completion of the sale, the chief financial officer now owns 23,068 shares in the company, valued at approximately $48,673.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 45,881 shares of company stock valued at $104,855. 55.66% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. bought a new stake in shares of Salem Media Group in the 1st quarter valued at $72,000. Acadian Asset Management LLC increased its position in shares of Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after buying an additional 13,701 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Salem Media Group by 55.9% in the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock valued at $855,000 after buying an additional 146,564 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Salem Media Group in the 4th quarter valued at $211,000. Finally, Bank of New York Mellon Corp increased its position in shares of Salem Media Group by 104.5% in the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock valued at $60,000 after buying an additional 14,723 shares in the last quarter. Institutional investors and hedge funds own 25.06% of the company’s stock.

Shares of Salem Media Group stock traded down $0.06 on Thursday, hitting $2.27. 2,008 shares of the company’s stock traded hands, compared to its average volume of 82,321. The firm has a 50-day moving average price of $2.20. The company has a market cap of $62.84 million, a PE ratio of 25.39 and a beta of 1.45. Salem Media Group has a one year low of $1.85 and a one year high of $6.25. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 1.31.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 11.45%. The ex-dividend date is Thursday, June 13th. Salem Media Group’s dividend payout ratio is currently 288.89%.

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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