Top Performer for Wed: Entercom (ETM)

I don't remember the last time we featured a company from the Broadcast-Radio/TV industry as a Zacks #1 Rank Top Performer. Nevertheless, with a gain of more than 8%, Entercom Communications Corp. (ETM) has made the list for Wednesday.

ETM is one of the 5 largest radio broadcasting companies in the U.S., with a nationwide portfolio of more than 100 stations in 23 markets. There is one other company from this space on today's 231-stock Zacks #1 Rank List: Grupo Televisa, S.A.B. (TV).

Waiting on the Second Quarter

ETM plans to report its second-quarter results on Aug 3. At the moment, analysts are predicting earnings per share of 30 cents, which has advanced 5 cents, or 20%, from 2 months ago.

The company's first-quarter report from May was, of course, difficult, as both revenue and earnings per share declined on a year-over-year basis.

However, despite the difficult environment, earnings estimates for this year and next remain above levels from 2 months ago. Analysts currently expect 86 cents per share for this year, marking a more than 6% gain from 60 days ago.

Meanwhile, expectations for next year have risen to $1.23, or nearly 40% atop the 2-month ago level. Furthermore, the result suggests a more than 40% improvement year over year.

Volume today is at more than 119,000, which is below the daily average of 362,000.

Read the full analyst report on TV

Read the full analyst report on ETM