-$0.01 Earnings Per Share Expected for Salem Media Group Inc (NASDAQ:SALM) This Quarter

Wall Street brokerages expect Salem Media Group Inc (NASDAQ:SALM) to report earnings per share of ($0.01) for the current quarter, according to Zacks. Zero analysts have made estimates for Salem Media Group’s earnings. Salem Media Group also posted earnings of ($0.01) per share in the same quarter last year. The business is expected to announce its next earnings report on Tuesday, March 10th.

On average, analysts expect that Salem Media Group will report full year earnings of ($0.02) per share for the current fiscal year. For the next year, analysts expect that the firm will report earnings of ($0.14) per share. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Salem Media Group.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.74). Salem Media Group had a negative net margin of 10.29% and a negative return on equity of 1.79%. The business had revenue of $64.12 million for the quarter, compared to the consensus estimate of $62.30 million.

Several equities analysts have recently issued reports on SALM shares. Noble Financial reaffirmed a “buy” rating and issued a $3.25 price target on shares of Salem Media Group in a research report on Wednesday, November 13th. ValuEngine upgraded Salem Media Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Salem Media Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $2.88.

A number of institutional investors have recently added to or reduced their stakes in SALM. OneAscent Financial Services LLC purchased a new stake in Salem Media Group in the second quarter valued at about $91,000. Bailard Inc. grew its holdings in Salem Media Group by 102.5% during the second quarter. Bailard Inc. now owns 57,309 shares of the company’s stock worth $139,000 after acquiring an additional 29,009 shares during the period. Acadian Asset Management LLC grew its holdings in Salem Media Group by 52.9% during the second quarter. Acadian Asset Management LLC now owns 63,327 shares of the company’s stock worth $153,000 after acquiring an additional 21,922 shares during the period. Renaissance Technologies LLC grew its holdings in Salem Media Group by 19.9% during the second quarter. Renaissance Technologies LLC now owns 192,598 shares of the company’s stock worth $468,000 after acquiring an additional 32,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Salem Media Group by 2.6% in the second quarter. Vanguard Group Inc. now owns 365,676 shares of the company’s stock valued at $889,000 after purchasing an additional 9,302 shares during the period. Institutional investors own 18.48% of the company’s stock.

SALM stock traded down $0.02 on Wednesday, reaching $1.46. The company’s stock had a trading volume of 13,774 shares, compared to its average volume of 60,639. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $38.96 million, a PE ratio of 16.22 and a beta of 1.64. The business has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.85. Salem Media Group has a 12-month low of $1.42 and a 12-month high of $3.26.

Salem Media Group Company Profile

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.

See Also: Do Tariffs Work?

Get a free copy of the Zacks research report on Salem Media Group (SALM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.