Beasley Broadcast Group (BBGI) Announces Quarterly Earnings Results

Beasley Broadcast Group (NASDAQ:BBGI) released its earnings results on Friday. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.14), MarketWatch Earnings reports. The company had revenue of $65.15 million for the quarter. Beasley Broadcast Group had a net margin of 33.09% and a return on equity of 8.35%.

Shares of BBGI opened at $6.61 on Friday. The company has a market capitalization of $181.81 million, a PE ratio of 9.87 and a beta of 0.54. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.35 and a current ratio of 2.35. Beasley Broadcast Group has a 12-month low of $6.00 and a 12-month high of $14.40.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 28th were paid a $0.05 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.20 annualized dividend and a dividend yield of 3.03%.

In other Beasley Broadcast Group news, Director Mark S. Fowler acquired 5,000 shares of the stock in a transaction dated Friday, August 10th. The shares were bought at an average price of $6.95 per share, with a total value of $34,750.00. Following the purchase, the director now directly owns 39,199 shares of the company’s stock, valued at approximately $272,433.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 61.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in BBGI. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Beasley Broadcast Group in the third quarter worth approximately $104,000. FCA Corp TX acquired a new stake in shares of Beasley Broadcast Group during the third quarter worth approximately $152,000. Hartford Investment Management Co. acquired a new stake in shares of Beasley Broadcast Group during the second quarter worth approximately $156,000. Wells Fargo & Company MN boosted its holdings in shares of Beasley Broadcast Group by 119.0% during the third quarter. Wells Fargo & Company MN now owns 23,734 shares of the company’s stock worth $164,000 after purchasing an additional 12,895 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Beasley Broadcast Group in the third quarter valued at approximately $369,000. 15.00% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. ValuEngine cut shares of Beasley Broadcast Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Guggenheim assumed coverage on shares of Beasley Broadcast Group in a research note on Wednesday, August 29th. They set a “buy” rating and a $8.50 target price on the stock. Finally, BidaskClub cut shares of Beasley Broadcast Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th.

Beasley Broadcast Group Company Profile

Beasley Broadcast Group, Inc, a radio broadcasting company, operates radio stations in the United States. As of February 12, 2018, it owned and operated 63 stations, including 45 FM and 18 AM stations in 15 large- and mid-size markets. The company was founded in 1961 and is headquartered in Naples, Florida.

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Earnings History for Beasley Broadcast Group (NASDAQ:BBGI)

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