SBS Flirts With Another New Low


Don’t look now, but Spanish Broadcasting System shares are back to where they were in early December 2017. That’s not good news, with shares now below 15 cents in value. On Tuesday, a 39% decline in value raised eyebrows.

That said, SBS shares are so slow this equates to a 9 cent decline from Tuesday’s closing price, putting “SBSAA” at 14 cents per share.

Volume was light at 784 shares; normal trading volume is 2,860 shares.

With a 1-year target estimate of $19, SBS shares are under considerable pressure ahead of Q3 earnings expected for a mid-November release. While SBS’s radio stations largely cash flow very well, the company is largely impacted by high leverage and debt.

Its market cap is just $1.026 million.

However, the majority of shares and voting stock is held by company head Raul Alarcon Jr.

On March 28, SBS shares were 59 cents — rising from 13 cents on December 4, 2017 to mark a year-to-date high.

Now, it appears SBS is ready to mark a new low for 2018 — and for its entire history as a publicly traded company.