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Tuesday, August 13, 2019
Salem Media (SALM)
Fast Forward To 2020
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.
Michael Kupinski, Senior Research Analyst, DOR, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Second quarter disappoints. Adjusted 2Q2019 EBITDA of $1.3 million was in line with our estimate and above 1Q2019 EBITDA of $0.5 million, mainly due to better performance from the MR tankers. Versus 1Q2019, TCE revenue ($0.6 million) and slightly lower opex slightly lower expenses ($0.1 million) were the main variances.
- Third quarter outlook. Management provided third quarter revenue guidance to decrease between 4% and 6%, which also reflects planned asset sales. Operating expenses were…
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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).
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