Audacy (AUD) to Release Earnings on Monday

Audacy (NYSEARCA:AUDGet Rating) will issue its quarterly earnings data before the market opens on Monday, May 9th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Audacy (NYSEARCA:AUDGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Audacy had a positive return on equity of 0.73% and a negative net margin of 0.29%. During the same period last year, the business posted ($1.21) earnings per share. On average, analysts expect Audacy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NYSEARCA:AUD opened at $2.54 on Monday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $366.01 million, a price-to-earnings ratio of -84.64 and a beta of 1.46. Audacy has a one year low of $2.01 and a one year high of $5.01. The business has a fifty day moving average of $2.89.

AUD has been the subject of several analyst reports. Zacks Investment Research upgraded Audacy from a “sell” rating to a “hold” rating in a research note on Friday, February 25th. B. Riley increased their price target on Audacy from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, April 5th. Finally, Wells Fargo & Company lowered Audacy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $5.00 to $3.00 in a research note on Tuesday, January 4th.

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Audacy by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 169,058 shares of the company’s stock valued at $434,000 after purchasing an additional 4,352 shares in the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Audacy by 22.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 31,898 shares of the company’s stock valued at $82,000 after purchasing an additional 5,906 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Audacy during the third quarter valued at about $46,000. Wells Fargo & Company MN grew its position in shares of Audacy by 11.9% during the fourth quarter. Wells Fargo & Company MN now owns 125,591 shares of the company’s stock valued at $322,000 after purchasing an additional 13,364 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Audacy by 47.0% during the fourth quarter. Citigroup Inc. now owns 55,286 shares of the company’s stock valued at $142,000 after purchasing an additional 17,689 shares in the last quarter. Institutional investors and hedge funds own 50.04% of the company’s stock.

About Audacy (Get Rating)

Audacy, Inc, a multi-platform audio content and entertainment company, engages in the radio broadcasting business in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others, as well as offers integrated marketing solutions across its broadcast, digital, podcast, and event platforms.

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