Analysts Offer Predictions for Audacy, Inc.’s FY2022 Earnings (NYSEARCA:AUD)

Audacy, Inc. (NYSEARCA:AUDGet Rating) – B. Riley reduced their FY2022 earnings per share (EPS) estimates for Audacy in a research note issued on Tuesday, May 10th. B. Riley analyst D. Day now forecasts that the company will post earnings of $0.79 per share for the year, down from their prior estimate of $0.90. B. Riley also issued estimates for Audacy’s FY2023 earnings at $1.11 EPS, FY2024 earnings at $1.16 EPS, FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.39 EPS.

Audacy (NYSEARCA:AUDGet Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Audacy had a negative net margin of 0.29% and a positive return on equity of 0.73%. During the same quarter in the previous year, the company posted ($1.21) EPS.

Separately, Zacks Investment Research lowered shares of Audacy from a “hold” rating to a “sell” rating in a report on Tuesday.

Audacy stock opened at $1.97 on Wednesday. The business’s 50 day moving average price is $2.83. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.73. The company has a market cap of $283.87 million, a price-to-earnings ratio of -65.64 and a beta of 1.44. Audacy has a 1-year low of $1.93 and a 1-year high of $4.71.

Large investors have recently added to or reduced their stakes in the company. Scott Capital Advisors LLC purchased a new stake in shares of Audacy during the fourth quarter valued at approximately $26,000. Greenleaf Trust purchased a new stake in Audacy in the first quarter worth $33,000. Great Lakes Advisors LLC purchased a new stake in Audacy in the fourth quarter worth $40,000. Janus Henderson Group PLC purchased a new stake in Audacy in the third quarter worth $46,000. Finally, Nisa Investment Advisors LLC lifted its stake in Audacy by 420.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,921 shares of the company’s stock worth $58,000 after acquiring an additional 19,321 shares during the period. 50.04% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Audacy (NYSEARCA:AUD)

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