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Is Entravision Communications Corp (NYSE:EVC) the Best High-Dividend Penny Stock to Buy Now?

Attiya Zainib
·2-min read

Entravision Communications Corp (NYSE:EVC)

Number of Hedge Fund Investors: 15

Entravision Communications Corp (NYSE:EVC) operates TV and radio channels that broadcast content primarily for the Spanish-speaking community. The stock's dividend is about 7%, and there were 15 hedge funds that had stakes in Entravision Communications Corp (NYSE:EVC) as of the end of 2023.

Entravision Communications Corp (NYSE:EVC) reported first quarter results earlier this month, with GAAP EPS coming in at -$0.55, which missed estimates by $0.46. Revenue, however, jumped 16.1% year over year to $277.45 million, surpassing estimates by $6.45 million.

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Entravision talked about its dividend and financial situation in a latest earnings call:

We made a prepayment of $10 million on our debt during the first quarter of 2024. Our leverage ratio as defined in our credit agreement was 3.1 times. Net of total cash and marketable securities, our total net leverage was 1.4x. Capital expenditures, net of tenant improvements reimbursement was $2.7 million for the quarter representing 8% of net cash provided by operating activities compared to 16% in Q1 of 2023. The higher CapEx last year was driven primarily by the build-out of our new office headquarters. Capital expenditures will be approximately $6 million for the year. We paid $4.5 million in dividends, or $0.05 per share, to our stockholders in the first quarter, representing 13% of our net cash provided by operating activities.

Our Board of Directors also approved a quarterly $0.05 dividend per share, which will be payable on June 28, 2024, to stockholders of record as of June 14, 2024.

Photo by Joshua Hoehne on Unsplash

Is Entravision Communications Really The Best High-Dividend Penny Stock?

Insider Monkey’s research shows that Entravision Communications is not the best high-dividend penny stock right now according to Insider Monkey’s research.   Click to see 10 Best High-Dividend Penny Stocks Disclosure: None.