Salem Communications (SALM) got here out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a lack of $0.07 per share. This compares to lack of $1.58 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 114.29%. 1 / 4 in the past, it was anticipated that this multimedia firm would submit earnings of $0.03 per share when it really produced earnings of $0.09, delivering a shock of 200%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Salem Communications, which belongs to the Zacks Broadcast Radio and Tv trade, posted revenues of $59.35 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 5.24%. This compares to year-ago revenues of $58.25 million. The corporate has topped consensus income estimates 4 occasions over the past 4 quarters.
The sustainability of the inventory’s quick value motion primarily based on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Salem Communications shares have added about 87.5% because the starting of the yr versus the S&P 500’s achieve of 11%.
What’s Subsequent for Salem Communications?
Whereas Salem Communications has outperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a formidable observe file of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Salem Communications was combined. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the whole checklist of at this time’s Zacks #1 Rank (Robust Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.01 on $59.63 million in revenues for the approaching quarter and -$0.02 on $240.22 million in revenues for the present fiscal yr.
Buyers ought to be conscious of the truth that the outlook for the trade can have a cloth influence on the efficiency of the inventory as effectively. By way of the Zacks Trade Rank, Broadcast Radio and Tv is presently within the backside 33% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Salem Media Group, Inc. (SALM): Free Inventory Evaluation Report
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