Salem Media Group Inc (NASDAQ:SALM) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Shareholders of record on Monday, September 23rd will be given a dividend of 0.065 per share on Monday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 13.98%. The ex-dividend date is Friday, September 20th.
Salem Media Group has a dividend payout ratio of 113.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Salem Media Group to earn ($0.14) per share next year, which means the company may not be able to cover its $0.26 annual dividend with an expected future payout ratio of -185.7%.
Shares of Salem Media Group stock opened at $1.86 on Wednesday. The firm has a market capitalization of $47.38 million, a P/E ratio of 20.67 and a beta of 1.67. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average price of $1.74 and a 200 day moving average price of $2.18. Salem Media Group has a 52 week low of $1.42 and a 52 week high of $4.05.
Salem Media Group (NASDAQ:SALM) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.18). The company had revenue of $64.68 million during the quarter, compared to analysts’ expectations of $65.09 million. Salem Media Group had a negative net margin of 2.01% and a negative return on equity of 0.94%. As a group, research analysts anticipate that Salem Media Group will post -0.02 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of Salem Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered shares of Salem Media Group from a “hold” rating to a “strong sell” rating in a research report on Friday, August 16th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $3.25 price objective on shares of Salem Media Group in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Salem Media Group currently has an average rating of “Hold” and a consensus target price of $2.88.
In other Salem Media Group news, CEO Edward G. Atsinger III purchased 31,443 shares of Salem Media Group stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $1.48 per share, with a total value of $46,535.64. Following the transaction, the chief executive officer now owns 41,323 shares of the company’s stock, valued at approximately $61,158.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 55.66% of the company’s stock.
About Salem Media Group
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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