As Q1 2019 nears its close, Beasley Media Group C-Suiters will likely be discussing whether or not to take an impairment charge due to the deflated value of its stock. With a recent dip to $3.53, on Christmas Eve, BBGI has struggled to rebound to $5, or higher.
With 45 minutes left in Wednesday’s trading session, Beasley was off 7 cents, to $4.16.
As Beasley has a $6 1-year target price, achieving that shouldn’t be difficult.
But, meager growth has been seen since the late December sell-off, propelled by a mid-2018 share sale from the Bordes family tied to the sale of Greater Media to Beasley.
Prior to July 16, 2018, a close above $10 was expected.
Now, getting to just half that value is a concern.
Beasley is set to go ex-dividend on March 28, and Simply Wall St. this week asked the question of whether Beasley’s share price tends to follow the market.
It’s conclusion: “Beasley Broadcast Group has a beta value quite close to that of the overall market. That doesn’t tell us much on its own, so it is probably worth considering whether the company is growing.”