Chek the Channels
Tuesday, April 14, 2020
Townsquare Media (TSQ)
Quarterly Preview: Unsettling Times
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. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First quarter preview. The first quarter is not expected to be significantly impacted by the economic fallout from battling the Coronavirus. The quarter started out strong, offsetting some of the advertising weakness in the last two weeks of March. We did not adjust our first quarter estimates although we would not be surprised if there was a "miss".
An ugly second quarter. The biggest impact from the Coronavirus will be in the second quarter. We believe that management will guide revenues to be down roughly 39% to 44% with expenses to be down 23%. Operating cash flow, adj EBITDA, is estimated to be...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the 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.