On Monday, all eyes were on CBS Corporation and merger partner Viacom, as each of the company’s stocks succumbed to prices that have not been so low in more than five years.
A day later, the same concern can be placed on Entravision shares.
At Tuesday’s Closing Bell on Wall Street, EVC lost 3.5 cents to $2.585.
This puts Entravision shares lower than where they were on Dec. 17, 2018 — a $2.71 price that came after shares abruptly dipped from a $5.14 close in late October. This serves as the 52-week high for a stock under tremendous pressure, as Entravision has had struggles of late in monetizing both its radio stations and its digital division.
And, that’s hardly good news, as the 1-year picture for Entravision looks better than the 5-year track for EVC:
With a 1-year target price of $5.50, one must wonder just when that will be achieved.
It’s been nearly one year since such a prediction seemed likely.
With a market cap of $220.5 million, Entravision will likely report its Q3 earnings between Nov. 5-11.
It remains to be seen if that will help its ailing stock price, viewed as “Overvalued” by analysts and carrying negative sentiments on both a short-term and long-term outlook.
