Movers and SHAKERS
Townsquare Media Inc (TSQ)
Why We Are Raising Estimates And Price Target?
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.
Provides preliminary Q4 results. Q4 revenues are expected to nicely exceed guidance, now expected to be down a more modest 2.7% to 4.5% versus previous expectations of down 7.5%. Cash flow, as measured by adjusted EBITDA, is expected to be between $27 million to $28 million, versus the previous expectations of roughly $25 million.
Favorable revenue trends. We believe that the favorable preliminary Q4 results is in large part due moderating broadcast advertising trends, excluding Political, which is encouraging as the company cycles toward easing comps in 2021 ...
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.