Movers and SHAKERS
Townsquare Media (TSQ)
A Digital Media Company At A Radio Multiple
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.
Q4 exceeds expectations. The company reported Q4 net revenue of $110.5 million, 2% above our expectation of $108.5 million. Adj. EBITDA of $25.6 million beat our estimate of $24.5 million by 4.4%. The enhanced results were driven by better than expected revenue growth in its Digital businesses, which grew nicely in the double digits.
Digital shines. The company revised its segment reporting to provide more transparency in its attractive Digital businesses. Digital revenue grew at double-digit rates and was 48% of total revenue in 4Q21. Given the strong performance, management updated its Digital revenue guidance to $275 million in 2024, up from $250 million previously, a compelling 11.5% CAGR from 2021 to 2024 ...
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.