Movers and SHAKERS
Townsquare Media Inc (TSQ)
Revenues Trending Better Than Expected
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.
Q3 Update. Management filed an 8K yesterday that highlighted July and August total company revenues are trending better than our expectations. July and August revenues were down 21% and 16%, respectively. We believe that September is sequentially better than August, and, as such, Q3 revenues are trending better than our down 21% estimate.
Strong Political. We believe that a portion of the upside is due to stronger-than-expected Political advertising, which we estimated to be $2.1 million for the quarter. This is high-margin advertising, and higher Political revenue should lead to a positive upside Q3 cash flow surprise ...
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.