Entercom Communications Corp. (ETM) Formed a Bearish Multiple Bottom, Could Be One of The Worst Performers Going Forward

September 17, 2017 - By Ellis Scott

Investors sentiment increased to 1.49 in Q4 2016. Its up 0.07, from 1.42 in 2016Q3. It is positive, as 6 investors sold Entercom Communications Corp. shares while 29 reduced holdings. 12 funds opened positions while 40 raised stakes. 19.03 million shares or 6.04% more from 17.94 million shares in 2016Q3 were reported.
Barclays Public Limited Company reported 905 shares. Pdt Ptnrs Ltd Liability Co owns 14,600 shares. Us Retail Bank De holds 167 shares or 0% of its portfolio. Connor Clark And Lunn Inv Limited owns 10,350 shares or 0% of their US portfolio. Citigroup holds 44,063 shares. Massachusetts-based Panagora Asset has invested 0.01% in Entercom Communications Corp. (NYSE:ETM). Brandywine Invest Mngmt Ltd Liability Company accumulated 24,130 shares. Renaissance holds 0.01% or 211,133 shares. Tower Research Capital Ltd Liability Co (Trc) reported 0% stake. Martingale Asset Management Lp has invested 0.02% in Entercom Communications Corp. (NYSE:ETM). State Street holds 436,208 shares or 0% of its portfolio. Clear Harbor Asset Management Limited Liability Company has 0.22% invested in Entercom Communications Corp. (NYSE:ETM). Oxford Asset owns 114,816 shares for 0.09% of their portfolio. Emerald Advisers Incorporated Pa invested in 611,269 shares. California State Teachers Retirement Sys invested in 0% or 53,528 shares.

Since May 12, 2017, it had 6 buys, and 0 selling transactions for $5.76 million activity.

The stock of Entercom Communications Corp. (ETM) shows a multiple bottoms pattern with $9.56 target or 9.00 % below today’s $10.50 share price. The 8 months chart pattern indicates high risk for the $427.98M company. It was reported on Sep, 17 by Finviz.com. If the $9.56 price target is reached, the company will be worth $38.52 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.94% or $0.1 on September 15, reaching $10.5. About 607,095 shares traded or 70.15% up from the average. Entercom Communications Corp. (NYSE:ETM) has declined 15.65% since September 17, 2016 and is downtrending. It has underperformed by 32.35% the S&P500.

Investors wait Entercom Communications Corp. (NYSE:ETM) to report on November, 6. its quarterly earnings Wall Street analysts expect $0.23 earnings per share, down $0.01 or 4.17 % from last year’s $0.24 same quarter earnings. This translates into $9.37M profit for ETM giving the stock a 11.41 P/E. This is assuming the current $0.23 EPS is accurate. Entercom Communications Corp.’s Wall Street analysts see 4.55 % EPS growth, taking into account the $0.22 EPS reproted in the previous quarter,

Entercom Communications Corp. (NYSE:ETM) Ratings Coverage

Among 3 analysts covering Entercom Communications (NYSE:ETM), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Entercom Communications had 4 analyst reports since August 18, 2015 according to SRatingsIntel. Stephens initiated it with “Equal-Weight” rating and $12 target in Friday, December 11 report. The stock of Entercom Communications Corp. (NYSE:ETM) has “Buy” rating given on Monday, July 24 by Noble Financial. The company was maintained on Monday, July 31 by Noble Financial. As per Tuesday, August 18, the company rating was upgraded by Wells Fargo.

More notable recent Entercom Communications Corp. (NYSE:ETM) news were published by: Philly.com which released: “Does radio have a future? Philly’s Entercom makes $4B leap with CBS Radio deal” on February 24, 2017, also Seekingalpha.com with their article: “Entercom Communications/CBS Radio: Bigger Is Better” published on February 07, 2017, Philly.com published: “Entercom CEO Field says CBS deal could lead advertisers to ‘rediscover’ radio” on February 22, 2017. More interesting news about Entercom Communications Corp. (NYSE:ETM) were released by: Seekingalpha.com and their article: “Entercom Communications’ (ETM) CEO David Field on Q2 2017 Results – Earnings …” published on July 28, 2017 as well as Businesswire.com‘s news article titled: “Entercom Communications Schedules Second Quarter 2017 Earnings Release” with publication date: July 14, 2017.

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