This stock traded for as high as $55, in the earlier part of this decade, and TYPICALLY traded for $30-35, in the mid part of this decade. I think, with all the shares bought in, and the accretion to future EPS from that, we are eventually going at LEAST to $30-35...and if the sector comes back into favor like it was in the early aughts, could go back to the old highs.
Expect at LEAST $2 in EPS at the next peak, and with all the cost cutting, SOME of which at least is permanent, I would say more likely $2.50. Slap a 15-18 multiple on this SOB, and you got a $37-45 two to four year target here.
The ride has JUST begun...we're still selling for little more than TWO times expected peak earnings.
I had avoided it, because they had higher leverage than ETM. Now, with the economic turnaround, I'm guessing you could buy ANY of the leveraged radio stocks (with the possible exception of the Clear Channel pink sheet stock and CTDB), and make a killing.