Salem Media Group (SALM) Downgraded to D at TheStreet

TheStreet lowered shares of Salem Media Group (NASDAQ:SALM) from a c- rating to a d rating in a report released on Monday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on SALM. Singular Research reissued a buy rating on shares of Salem Media Group in a research note on Friday, March 15th. Zacks Investment Research cut shares of Salem Media Group from a hold rating to a sell rating in a research note on Friday, March 15th. ValuEngine raised shares of Salem Media Group from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, Noble Financial reissued a buy rating and issued a $3.50 price target on shares of Salem Media Group in a research note on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $3.25.

Shares of NASDAQ:SALM opened at $2.25 on Monday. The company has a market cap of $57.35 million, a P/E ratio of 25.00 and a beta of 1.67. Salem Media Group has a 12 month low of $2.03 and a 12 month high of $6.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.81.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $67.19 million for the quarter, compared to analysts’ expectations of $66.50 million. Salem Media Group had a negative net margin of 1.21% and a positive return on equity of 1.42%. As a group, equities research analysts anticipate that Salem Media Group will post 0.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 19th were paid a $0.065 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.26 dividend on an annualized basis and a yield of 11.56%. Salem Media Group’s dividend payout ratio is presently 288.89%.

Several institutional investors have recently made changes to their positions in SALM. Dimensional Fund Advisors LP boosted its stake in shares of Salem Media Group by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock valued at $4,358,000 after purchasing an additional 57,252 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Salem Media Group by 1.7% in the 4th quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock valued at $809,000 after purchasing an additional 6,531 shares in the last quarter. Acadian Asset Management LLC boosted its stake 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 purchasing an additional 13,701 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 14,723 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Salem Media Group in the 4th quarter valued at $211,000. 25.44% of the stock is owned by institutional investors.

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.

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