Category: Media and Marketing

Research comtech telecommunications corp- cmtl favorable risk reward lowering estimates company withdraws guidance

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Wednesday, April 1, 2020

Comtech Telecommunications Corp. (CMTL)

Favorable Risk/Reward, Lowering Estimates, Company Withdraws Guidance

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Business Update and Guidance Withdrawal. Comtech released a business update and withdrew guidance after the market closed last night. We are lowering our estimates given the impact of the economic shutdown. We continue to believe these are short-term impacts and that Comtech is not losing sales, just seeing a delay.

    The Numbers. For 3Q20, we are now at revenue of $142 million, down from $152 million, adjusted EBITDA of $9.3 million from $16.8 million, and a net loss of $0.09 per share versus a prior net income of $0.12. For the full year, we are at $653.9 million, $76.1 million, and…

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This 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. 

Research – QuoteMedia (QMCI) – Is It Having Trouble With The Smaller Fish While Looking For A Big One?

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Tuesday, March 31, 2020

QuoteMedia (QMCI)

Is It Having Trouble With The Smaller Fish While Looking For A Big One?

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Uninspiring Q4. Revenues increased a moderate 4.3% to $2.97 million, a tad lighter than our $3.02 million estimate, or 6.1% growth. For the year, total company revenues increased 6.0%, a significant deceleration from full year 2018 revenue growth of 17.2%. Corporate and Individual Quotestream revenue weakness accounted for the muted revenue performance.

    Cash flow slightly better. Q4 cash flow, as measured by adjusted EBITDA, was $0.52 million, better than our…


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research quotemedia qmci is it having trouble with the smaller fish while looking for a big one

Posted on by Admin

Tuesday, March 31, 2020

QuoteMedia (QMCI)

Is It Having Trouble With The Smaller Fish While Looking For A Big One?

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Uninspiring Q4. Revenues increased a moderate 4.3% to $2.97 million, a tad lighter than our $3.02 million estimate, or 6.1% growth. For the year, total company revenues increased 6.0%, a significant deceleration from full year 2018 revenue growth of 17.2%. Corporate and Individual Quotestream revenue weakness accounted for the muted revenue performance.

    Cash flow slightly better. Q4 cash flow, as measured by adjusted EBITDA, was $0.52 million, better than our…


    Click here to get the full report.

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. 

Research – Salem Media (SALM) – A Not Surprising Move

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Friday, March 27, 2020

Salem Media (SALM)

A Not Surprising Move

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Withdraws Q1 guidance. The company announced that it has withdrawn revenue and its expense guidance for Q1 given the economic and advertising impact of the Coronavirus. Like most advertising driven businesses, this move was not a surprise.

    Original guidance. Original guidance anticipated that revenues would be flat to a decrease of 2% and expenses would be flat to an increase of 3%, which was in line with our previous estimates. We believe that the quarter started strongly but quickly deteriorated in the last weeks of March when the Coronavirus had a large affect on the economy and…


    Click here to get the full report.

This 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. 

Research salem media salm a not surprising move

Posted on by Admin

Friday, March 27, 2020

Salem Media (SALM)

A Not Surprising Move

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Withdraws Q1 guidance. The company announced that it has withdrawn revenue and its expense guidance for Q1 given the economic and advertising impact of the Coronavirus. Like most advertising driven businesses, this move was not a surprise.

    Original guidance. Original guidance anticipated that revenues would be flat to a decrease of 2% and expenses would be flat to an increase of 3%, which was in line with our previous estimates. We believe that the quarter started strongly but quickly deteriorated in the last weeks of March when the Coronavirus had a large affect on the economy and…


    Click here to get the full report.

This 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. 

Research – Townsquare Media Inc (TSQ) – Winded By the Virus

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Tuesday, March 17, 2020

Townsquare Media Inc (TSQ)

Winded By the Virus

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, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    In line Q4 results. Total company revenues of $112.1 million were in line with our $111.9 million estimate. Adjusted EBITDA of $24.1 million was in line with out $24.5 million estimate. High margin Political advertising was a little softer than expected which accounted for the variance in our cash flow estimate ($1.6 million versus our $2.1 million estimate).

    Likely impact from the Virus.  Live Events have been cancelled and advertising has been postponed or cancelled, directly related to the impact of the CoronaVirus. Fortunately, the company has a largely variable cost business and…


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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. 

Research townsquare media inc tsq winded by the virus

Posted on by Admin

Tuesday, March 17, 2020

Townsquare Media Inc (TSQ)

Winded By the Virus

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, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    In line Q4 results. Total company revenues of $112.1 million were in line with our $111.9 million estimate. Adjusted EBITDA of $24.1 million was in line with out $24.5 million estimate. High margin Political advertising was a little softer than expected which accounted for the variance in our cash flow estimate ($1.6 million versus our $2.1 million estimate).

    Likely impact from the Virus.  Live Events have been cancelled and advertising has been postponed or cancelled, directly related to the impact of the CoronaVirus. Fortunately, the company has a largely variable cost business and…


    Click to get the full report.

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. 

Research – Harte-Hanks (HHS) – What Has To Happen To Achieve Its Free Cash Flow Goal?

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Monday, March 16, 2020

Harte-Hanks Inc. (HHS)

What Has To Happen To Achieve Its Free Cash Flow Goal?

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    On a good course. The positive “beat” on Q4 and full year 2019 results reflect the recent right sizing of its business, a strategy that is still not fully completed. Management appears sanguine that the company will be cash flow positive for 2020.

    CoronaVirus impact unknown. Businesses appear to be booking marketing campaigns late and there appears to be some nervousness with advertisers. At this time, marketing programs do not appear to be cancelled, but there is some hesitancy. We believe…


    Click to get the full report.

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. 

Research harte hanks hhs what has to happen to achieve its free cash flow goal

Posted on by Admin

Monday, March 16, 2020

Harte-Hanks Inc. (HHS)

What Has To Happen To Achieve Its Free Cash Flow Goal?

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    On a good course. The positive “beat” on Q4 and full year 2019 results reflect the recent right sizing of its business, a strategy that is still not fully completed. Management appears sanguine that the company will be cash flow positive for 2020.

    CoronaVirus impact unknown. Businesses appear to be booking marketing campaigns late and there appears to be some nervousness with advertisers. At this time, marketing programs do not appear to be cancelled, but there is some hesitancy. We believe…


    Click to get the full report.

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. 

Research – Salem Media (SALM) – Can The Positive News Continue?

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Friday, March 13, 2020

Salem Media (SALM)

Can The Positive News Continue?

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Q4 results better than expected. Fourth quarter revenue and cash flow (as measured by Adj. EBITDA) was better than expected, upon strength in its broadcasting segment. Revenues of $64.6 million beat our $63.4 million estimate and Adj. EBITDA of $10.2 million beat our estimate of $8.6 million.

    Solid broadcast performance. Excluding the impact of recent station sales and the impact of year earlier Political advertising, Q4 Broadcast revenues would have increased a…


    Click to get the full report.

This 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. 

Research – Harte-Hanks Inc. (HHS) – Is The Company Out Of The Woods?

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Friday, March 13, 2020

Harte-Hanks Inc. (HHS)

Is The Company Out Of The Woods?

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Overachieves on cash flow. Q4 revenues were in line with expectations, but cash flow (adj. EBITDA) overachieves. Q4 revenues were $52.3 million versus our $52.0 million estimate. Cash Flow was $3.1 million versus our $800,000 estimate. The variance was partially attributed to better than expected insurance reimbursement.

    Further realigning its businesses. The company plans to further reduced costs through renegotiating vendor agreements, eliminating low margin or unprofitable revenue, and consolidating facilities. Expenses are expected to decline at a faster pace than…


    Click to get the full report.

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. 

Research salem media salm can the positive news continue

Posted on by Admin

Friday, March 13, 2020

Salem Media (SALM)

Can The Positive News Continue?

Salem Media Group is America’s leading radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to approximately 2700 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a leading publisher of Christian themed magazines. Salem owns and operates 115 radio stations, with 73 stations in the nation’s top 25 top markets – and 25 in the top 10. Each of our radio properties has a full portfolio of broadcast and digital marketing opportunities.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Q4 results better than expected. Fourth quarter revenue and cash flow (as measured by Adj. EBITDA) was better than expected, upon strength in its broadcasting segment. Revenues of $64.6 million beat our $63.4 million estimate and Adj. EBITDA of $10.2 million beat our estimate of $8.6 million.

    Solid broadcast performance. Excluding the impact of recent station sales and the impact of year earlier Political advertising, Q4 Broadcast revenues would have increased a…


    Click to get the full report.

This 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. 

Research harte hanks inc- hhs is the company out of the woods

Posted on by Admin

Friday, March 13, 2020

Harte-Hanks Inc. (HHS)

Is The Company Out Of The Woods?

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Overachieves on cash flow. Q4 revenues were in line with expectations, but cash flow (adj. EBITDA) overachieves. Q4 revenues were $52.3 million versus our $52.0 million estimate. Cash Flow was $3.1 million versus our $800,000 estimate. The variance was partially attributed to better than expected insurance reimbursement.

    Further realigning its businesses. The company plans to further reduced costs through renegotiating vendor agreements, eliminating low margin or unprofitable revenue, and consolidating facilities. Expenses are expected to decline at a faster pace than…


    Click to get the full report.

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.