On October 13, Beasley Media Group’s publicly traded stock closed the day’s trading session at $1. Since then, the company’s shares have struggled to motor back to the upper-$1 range, where they sat some six months ago.
With Monday’s trading now complete, BBGI remains at a critical low for the audio content creation and distribution company.
On average volume of roughly 27,222 shares, BBGI is at $1.01.
By comparison, Beasley shares began 2022 at $2 per share. And, they’ve been on a steady slow trek downward since then.
BBGI maintains a 1-year target estimate of $2.75, and with earnings for Q3 2022 expected within the next two weeks, cutbacks that include high-profile reduction in force moves at WMMR-FM in Philadelphia and WRBQ “Q105” in Tampa have put a grey cloud over the Naples, Fla.-based company which escaped Hurricane Ian’s biggest damage but is being wounded by Wall Street.
As of today just two analysts track Beasley. For Q3, they expect a earnings-per-share loss of either -$0.03 or -$0.04. Revenue is anticipated to come in at $63.05 million-$63.52 million.
As of today, Beasley has not yet determined when it will host its Q3 earnings call. This is likely due to delays associated with the company’s headquarters in Southwest Florida, where damage from Hurricane Ian was widespread while not wholly impacting Beasley’s corporate offices.
