Chicken Soup for the Soul Entertainment falls on bigger-than-expected Q2 loss

Chicken Soup for The Soul Entertainment

12/08/2022 12:42

** Chicken Soup for the Soul Entertainment's shares  CSSE.O 
down ~6% at $13.30 premarket 
    ** The entertainment co reported a Q2 loss of $1.28 per
share vs analysts' estimate of 72 cents a share - Refinitiv data
    ** Revenue grew ~29% to $37.64 mln, beating est. of $28.97
mln 
    ** Co has completed the discounted acquisition of Redbox
Entertainment for an all-stock deal, taking it off the market
 urn:newsml:reuters.com:*:nL3N2X333H urn:newsml:reuters.com:*:nL4N2ZM36S
    ** These collective assets create an entertainment company
for value-conscious consumers that will generate over $500 mln
in revenue and $100-$150 mln in adjusted EBITDA on an annualized
basis exiting this year - CEO William J. Rouhana Jr 
    ** D.A. Davidson & Company raises CSSE's PT to $52 from $40
    ** All the nine brokerages covering CSSE, rate the stock
"buy" or higher, their median PT is $25
    ** Up to Thursday's close, stock had risen ~2.5% YTD
compared with a ~17% decline in the NASDAQ Industrial Index
 .IXID 

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))