...on what I see as a very solid earnings release. Paid generally $3.15-3.25.
I personally think we need to listen to David Field of Entercom, in terms of an outlook for radio ad revenues later this year. (Lou Dickey is just being too damn conservative, I believe!)
In any case, hats off the management here for continuing to "defend the cash flows," and protect equity holders' interests, in what could have very well been, 8-10 months ago, a total wipeout.
I still see this at $4.00-4.50, by, or very shortly after, the time of the Q1 earnings release in a couple months. It's too cheap at little more than 4x this year's fully taxed earnings. Especially considering the momentum the industry is seeing (ad revenue turnaround).
With the industry rally, I don't see why EMMS shouldn't be back at $1.35 or so, in the next few weeks...at the very least. A block was clearly weighing on the stock, but that appears to have now to have cleared the market.