Noble Financial Reaffirms “Buy” Rating for Salem Media Group, Inc. (SALM)

Noble Financial reissued their buy rating on shares of Salem Media Group, Inc. (NASDAQ:SALM) in a report released on Friday.

A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Salem Media Group from a hold rating to a sell rating in a research report on Thursday, October 5th. ValuEngine downgraded shares of Salem Media Group from a buy rating to a hold rating in a research report on Friday, September 1st.

Shares of Salem Media Group (NASDAQ SALM) traded down $0.20 during trading hours on Friday, reaching $4.95. 50,200 shares of the company traded hands, compared to its average volume of 35,855. The company has a market cap of $134.51, a P/E ratio of 12.56 and a beta of 1.29. Salem Media Group has a 12-month low of $4.82 and a 12-month high of $8.25. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 0.89.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). The firm had revenue of $65.43 million during the quarter, compared to the consensus estimate of $68.43 million. Salem Media Group had a net margin of 1.97% and a return on equity of 5.02%. sell-side analysts anticipate that Salem Media Group will post 0.3 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new stake in shares of Salem Media Group during the 3rd quarter worth about $101,000. Cornerstone Capital Management Holdings LLC. raised its position in shares of Salem Media Group by 23.7% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after buying an additional 3,300 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Salem Media Group by 82.9% during the 2nd quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock worth $154,000 after buying an additional 9,852 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Salem Media Group by 35.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock worth $210,000 after buying an additional 7,701 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Salem Media Group by 72.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock worth $344,000 after buying an additional 19,373 shares in the last quarter. Institutional investors own 30.27% of the company’s stock.

Salem Media Group Company Profile

Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.

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