The week that was wasn’t so kind for Entercom Communications. 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 to $3.36. With Friday’s Closing Bell, they were slightly better, at $3.54.
On Monday, another big slump was seen, with investors calling in their share sales in after-hours trading on Friday. It was a vocal response to a sizable cut in Entercom’s quarterly dividend.