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 yield of 14.21%. The ex-dividend date is Friday, September 20th.

Salem Media Group has a dividend payout ratio of 113.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.

Salem Media Group stock opened at $1.83 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.61 and a current ratio of 0.62. The firm has a market capitalization of $52.17 million, a price-to-earnings ratio of 20.33 and a beta of 1.66. Salem Media Group has a fifty-two week low of $1.42 and a fifty-two week high of $4.05. The stock’s fifty day moving average is $1.73 and its two-hundred day moving average is $2.18.

Salem Media Group (NASDAQ:SALM) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.18). The firm had revenue of $64.68 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that Salem Media Group will post -0.02 EPS for the current fiscal year.

Several brokerages have recently issued reports on SALM. ValuEngine downgraded Salem Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research downgraded Salem Media Group from a “hold” rating to a “strong sell” rating in a research report on Friday, August 16th. Finally, Noble Financial restated 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 investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. Salem Media Group has a consensus rating of “Hold” and an average target price of $2.88.

In related news, CEO Edward G. Atsinger III acquired 31,443 shares of Salem Media Group stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $1.48 per share, for a total transaction of $46,535.64. Following the completion of the transaction, the chief executive officer now directly owns 41,323 shares of the company’s stock, valued at $61,158.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 55.66% of the stock is owned by corporate insiders.

Salem Media Group Company Profile

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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Dividend History for Salem Media Group (NASDAQ:SALM)

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