Here is what I see.10X EBITDA 840MJournal Comm cash 10MKGMB Hawaii cash 40MCash on hand 16MNew Orleans TV EST 22MLess Total Debt 505MValuation 423M / 37.33M shares = $11.33/share10X EBITDA may be conservative, but it appears this stock is deeply oversold. Please present any positive or negative analysis you may have, with your supporting arguments.
10X EBITDA 840MJournal Cash 10MCash on Hand 16MKGMB Cash 40MNew Orleans TV est 25MWQCD potential sale 200MLess Total Debt 505MLess Preferred Stk 143MValuation $483M / 37.33M shares = $12.94/share.Left out the preferred stock last time, will need to be accounted for in any going private offer.10.5X EBITDA yields a share price of $14.06.Still looks like a buy.
Based on Martin Capital's recent station sale suggestions, how about this:10X EBITDA 840MJournal Comm cash 10MKGMB Hawaii cash 40MCash on hand 16MNew Orleans TV EST 25MWQCD Potential sale 200MKMVN,WKQX,WLUP sales 500MLess Total Debt 505MLess Preferred Stk 143MValuation $983M/37.33M shares = $26.33/share.10.5X EBITDA = $27.46/share.Draw your own conclusions.
Shorts may be experiencing some pain now. Only 3341 calls available for hedging, with 6.6 million shares short. CXR just upgraded by Credit Suisse, Wall Street appears to be warming to the radio sector. Good luck longs.
Short squeeze coming soon...
Only way for this stock to move upwards is for an Analyst's upgrade.Oh wait, that just happened. No one cares about fundamentals anymore.