Broadcasting Stocks

U.S. financial markets gyrated significantly once again on Tuesday, as the Dow Jones Industrial Average jumped ahead 389.17 points, to 24,033.36. Nasdaq gained 71.16, to 6,941.28. For media stocks, it was mostly a rebound session. However, Viacom's Class B shares suffered from more unsubstantiated reports about a reunification from CBS Corp. — this one claiming that CBS today made an all-cash offer with a valuation below its current stock price.

If you thought the snow from Dayton to Dobbs Ferry on Easter Monday morning was depressing, wait until you see how media stocks fared on Wall Street. It was a disastrous day, thanks to worries of a trade war and more chatter from the White House about Amazon and The Washington Post, which it owns. This sent the Dow sinking 1.9% -- and many media companies were caught up in the fray.

The first quarter of 2018 effectively concluded Thursday, as U.S. financial markets are closed today in observance of Good Friday and the start of Passover. RBR+TVBR reviewed the first quarter performance for several companies' stocks. For Salem Media Group, the picture is clear — Q1 wasn't so hot. 

U.S. financial markets continued their rollercoaster-like activity on Thursday, as the Dow Jones Industrial Average climbed 254.69, to 24,103.11. The Nasdaq composite index improved 114.22 points, to 7,063.44. Among the media companies on the rise: Viacom and Beasley.

Beasley Broadcast Group shares enjoyed a welcome move in the right direction on Wednesday. At the Closing Bell, the radio industry pure-play saw its shares finish at its highest level since March 5. Still, with Q1 2018 coming to a close, shares are down -- albeit slightly -- from where they were on New Year's Day.

Tuesday's activity on Wall Street was less than pleasant for owners of broadcast media company stock. The Dow Jones Industrial Average slid 1.4%, with a 344.89-point drop to 23,857.71. The Nasdaq composite index was off 2.9%, with a 211.74-point slide to 7,008.81. While many media companies were up, some finished the day in the red.

With a 1-year target estimate of $13.67 and the recent addition of the former CBS Radio stations, one would think investing now in Entercom Communications stock would present shareholders with strong long-term value. That's not exactly happening. In fact, Entercom shares are poised to end Q1 on a significantly downbeat note: Prices haven't been this low since September 2014.

Talk is heating up — again — that Viacom and CBS Corp. are seriously considering a reunification of the companies. That chatter helped CBS enjoy a stellar performance on Wall Street in Monday's trading. For Viacom, there was no rumor bump in its stock price.

Nexstar Media Group shares fell sharply for the third consecutive day, and continued to lose ground in immediate after-hours trading on Wall Street. With today's Closing Bell, the broadcast TV company's shares are now at their lowest level since the first days of November 2017.

It's been a rough 3 1/2 months on Wall Street for Nexstar. After climbing as high as $81.75 on January 15, the broadcast TV company's shares have stumbled. With Wednesday's finish, Nexstar has now effectively wiped out any growth in its share price seen since late November 2017.

It's not the best time to be a long-time holder of Salem Media Group stock. The conservative and Christian-theme media company finished Tuesday's trading at an all-time low.

Entravision Communications has emerged as a formidable Hispanic digital media company, given the revenue growth seen in this arm of the company in recent quarters. But, the struggles at its radio and TV divisions, which still represent the core of Entravision's business, could be worrying investors. At the Closing Bell on Wall Street on Monday, EVC shares were off by more than 10%.

The volatile stock market is ending the week on a high note, thanks to energy companies seeing gains on a rise in the price of oil. But, Friday saw a relatively uneventful trading session for broadcast media companies that trade on Wall Street.

U.S. financial markets declined on Tuesday, as volatility returned to Wall Street with a 171.58-point decline for the Dow Jones Industrials Average, to 25,007.03. The Nasdaq composite index was down 77.31, to 7,511.01. Big dips were seen for digital darlings including Twitter and Snapchat, while media companies such as Beasley Broadcast Group were also swept up in a red tide.

One of the hottest stocks on Wall Street in recent days has been Netflix. Fueled by exclusive first-run series it has produced and/or acquired, the OTT darling's stock has soared past $300 a share as part of a meteoric rise in value seen since Jan. 1, 2018. On Monday, investors decided to cash in, with Netflix losing 3% of its value but still well above where it began the year.