Broadcasting Stocks

Earnings season is rapidly approaching, and that means investors and financial analysts will have their eyes peeled on the all-important second quarter results for publicly traded broadcast companies and even such privately held entities as TelevisaUnivision. On August 5, one radio industry pure-play will release its Q2 '22 fiscal report. And, it is holding its earning call at exactly the same as that of television industry player Gray Television.

American Tower Corporation has selected the date of its release of the company's second quarter 2022 results. It is the last Thursday in July.

Get ready to start the month of August by gauging the performance of how every publicly traded radio and television company performed during the three-month period ending June 30. That's when Earnings Season officially hits its zenith for the broadcast media industry, and when Gray Television will release its Q2 2022 results.

Earlier this week, RBR+TVBR put a spotlight on Audacy Corp., which is starting the second half of 2022 with some of its lowest closing prices for its stock across the last five years. But, Audacy isn't the only broadcast media company with Wall Street challenges as July begins.

Its stock bears a one-year target price of $3.25. On March 25, that seemed like an attainable goal for Audacy Corp. Since then, however, its stock has suffered a slump that hasn't ceased. In fact, Audacy shares have been priced this low only once since October 2008.

Xperi Holding Corporation, with a market cap of $1.53 billion, could end up pleasing investors a little bit more come early August, when its Q2 2022 earnings results are scheduled for release. The company has increased both its annual revenue and its operating cash flow guidance for the year.

The company with EVP/CFO Lee Ann Gliha — voted by RBR+TVBR readers as the Top Broadcast Best Finance Leader of 2022 — in the chair since August 2021, has engaged in a refinancing effort. Could it provide a new spark to Nexstar stock, which has seen year-over-year growth and remains one of the broadcast media industry's best Wall Street performers despite a $20 per-share loss seen over the last 30 days?

Nexstar Media Group shareholders have voted in favor of all proposal  recommended by the Board of Directors. This sets the stage for the elimination of two classes of Nexstar stock.

An indirect wholly owned subsidiary of Cumulus Media has amended its existing $100 million revolving credit facility by extending its maturity by two years. Here's the good news: As of Wednesday, there were no amounts outstanding under the facility.

One year ago, Saga Communications restored its quarterly cash dividend, awarding its investors with a $0.16 per-share payout. This has been seen in each quarter since the release of its Q2 2021 results. Now, Saga's board of directors has approved a slight increase to their quarterly dividend.

This Thursday, the CEO and EVP of Investor Relations for Townsquare Media will find themselves in familiar confines — the location of broadcast media's most prestigious leadership conference, Forecast. What's going on at the Harvard Club in New York? 

Audacy Corp. was hit hard by the COVID-19 pandemic, but its fundamental picture is finally improving. That's the assessment of Daniel Jones, author of "Crude Value Insights" distributed by Seeking Alpha. This is good, Jones says. Alas, he believes it's not good enough.

That's a question asked today by Zacks Equity Research. What's the conclusion? It's a highly positive one for the broadcast media company that owns broadcast TV stations, NewsNation and WGN Radio in Chicago.

Salem Media Group is preparing to appear at an institutional investor conference scheduled for June 7 in the far northwestern Los Angeles suburb of Westlake Village, Calif.

Chris Young, the CFO and Treasurer for the U.S.-based media company that's quickly becoming a digitally focused entity with a global imprint but with roots in Hispanic radio and television, will be participating in a trio of events designed to impress institutions wishing to invest.