Salem Communications Corp. (NASDAQ:SALM) announced a quarterly dividend on Thursday, September 12th, Analyst Ratings Network reports. Investors of record on Thursday, September 26th will be paid a dividend of $0.0525 per share on Friday, October 4th. This represents a $0.21 annualized dividend and a dividend yield of 2.57%.
SALM has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Salem Communications Corp. (NASDAQ:SALM) from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, July 12th. They now have a $8.10 price target on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Salem Communications Corp. (NASDAQ:SALM) from a “hold” rating to a “sell” rating in a research note to investors on Monday, July 8th.
Salem Communications Corp. (NASDAQ:SALM) traded up 0.12% on Thursday, hitting $8.17. The stock had a trading volume of 42,639 shares. Salem Communications Corp. has a 52-week low of $4.62 and a 52-week high of $10.14. The stock’s 50-day moving average is $7.86 and its 200-day moving average is $7.86. The company’s market cap is $202.7 million.
Salem Communications Corp. (NASDAQ:SALM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.07. The company had revenue of $60.10 million for the quarter, compared to the consensus estimate of $59.30 million. On average, analysts predict that Salem Communications Corp. will post $-0.25 earnings per share for the current fiscal year.
Salem Communications Corporation (NASDAQ:SALM) is a domestic multi-media company with integrated business operations covering radio broadcasting, publishing and the Internet.