Movers and SHAKERS
Wednesday, May 8, 2019
Townsquare Media (TSQ)
Will The Company Get The Investor Respect It Deserves?
Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Q1 exceeds expectations. Revenues of $93.7 million in line with our $93 million estimate on the strength of its Digital businesses. Operating cash flow (adj. EBITDA), however, was better than our estimates at $19.5 million (versus our $17.8 million est.) and above its previous guidance of $17.5 million to $18.5 million. The results reflected the absence of its Music Festival business, which is treated as discontinued operations.
- Digital a big piece of the company. Its Digital business, which grew a strong 20% plus in the latest quarter, now represents approximately 33% of total company revenues. This total sets Townsquare apart from its peers that average digital revenu...
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.