It’s officially earnings season for publicly traded media companies, and Entravision Communications will not likely report their results for a few more weeks.
That said, investors may be a little nervous as to what awaits for Entravision in Q1. The company’s stock dipped again on Monday, and is now trading at levels not seen in 3 1/2 years.
As the Closing Bell rang on Wall Street, EVC shares dipped to $4.65, a 3.1% dip.
It is a step in the wrong direction for Entravision, which is now largely seeing its profits come from digital and programmatic, and not from radio or TV.
A $4.35 close on March 19 was its lowest since fall 2014, and today’s fall is its second-lowest close since September 2014, when Entravision began a modest growth trend, climbing to $8.76 by October 2015.
Entravision was $7.40 a share just three months ago, on January 29.
Volume was lower than average, at 325,108 shares, on Monday. Normal trading is 615,217 shares.
Entravision went ex-dividend on March 16 and carries a $9 target price.
It has yet to reach that price.