Thursday’s trading on Wall Street saw investors react positively to Viacom’s Q4 results, sending the stock’s B-class shares up $1.82, to $43.89. It also benefited from an upgrade from “Market Perform” to “Outperform” by Barrington Research, as Wells Fargo analyst Marci Ryvicker initiated coverage on VIA-B, also setting an “Outperform” rating.
Saga Communications increased by $1.76, to $49.31, as the company learns what its Reverse Auction proceeds from the FCC may be. Sinclair Broadcast Group was also up, gaining $1.25 to $34.90 as its two big ABC affiliates in the Pacific Northwest returned to Frontier Communications systems after a five-week blackout.
Entercom increased 20 cents, to $14.70, as the company declared a $0.075 per share quarterly dividend — in line with its previous quarterly dividends. The forward yield on the dividend is 2.05%, and it is payable March 15 to shareholders of record on Feb. 28. Entercom shares go ex-dividend on Feb. 24.
Of Thursday’s decliners on Wall Street, iHeartMedia was down 4 cents, to $1.09, while Spanish Broadcasting System dipped 14 cents, to $1.58.
The RBR Radio Index rose 2.539, or 0.43%, to 595.860.
The TVBR Television Index rose 9.638, or 0.98%, to 989.477.
Salem, up 9.6%
Sinclair, up 3.7%
Saga, up 3.7%
SBS, down 8.1%
iHeart, down 3.7%
Emmis, down 3.3%