Ransomware, be damned.
With much of Entercom‘s computer systems and email back in action on Thursday morning, ETM shares were flying high in average trading on NYSE.
At the Closing Bell, ETM was up 1.6% gain to $3.82/
The improvement puts ETM at its highest point since a steep August 6 drop in value, precipitated by a disappointing second-quarter earnings report.
With a Q2 2019 earnings per share miss of 11 cents, compared to what Wall Street analysts expected, ETM shares plunged by 36% in value. On August 12, a further 6% slump was seen, in response to a big dividend cut.
Then came reports from Simply Wall St. suggesting investors not “race out” to grab ETM shares simply because it went ex-dividend on August 28. That report surfaced two days after it reviewed President/CEO David Field‘s salary, asking if he was overpaid relative to his peers.
Entercom is off from a year-to-date high of $6.88, seen April 30.