Thursday, April 28, 2022
Beasley Broadcast Group (BBGI)
A Path Toward Enhanced Revenue and Cash Flow Growth
Beasley Broadcast Group Inc is a radio broadcasting company, engaged in operating radio stations throughout the United States. It operates radio stations including FM and AM radio stations located in large and mid-sized markets in the United States. The company owns and operates radio stations in the following radio markets: Atlanta, GA, Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Fort Myers-Naples, FL, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, Tampa-Saint Petersburg, FL, West Palm Beach-Boca Raton, FL, and Wilmington, DE. It is also a multi-platform, marketing solutions provider that offers on-air, online, and mobile and social media applications. The main source of revenue is the sale of advertising.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon18 highlights. Marie Tedesco, CFO, described the company’s roadmap towards an acceleration in revenue growth and higher profitability. The company plans to develop a Digital Agency business in its medium to large markets. To watch a full replay of the presentation, please click here.
Local Radio drives growth. Beasley’s 3 key markets, Boston, Philadelphia, and Detroit, represent over 50% of the company’s total revenues. Notably, its stations clusters have a more than 30% market share in each market. Retail and entertainment ad categories are recovering beyond pre-pandemic levels, offsetting the headwinds in auto. Additionally, a boost could come from sports betting, should …
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.