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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).
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certification and important disclosures included in the full report.
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