Morgan Stanley Reiterates Overweight Rating for Grupo Televisa SAB (TV)
Grupo Televisa SAB (NYSE:TV)‘s stock had its “overweight” rating reiterated by investment analysts at Morgan Stanley in a note issued to investors on Tuesday. They currently have a $38.00 price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 7.01% from the company’s current price.
The analysts wrote, “The downside to EBITDA came mostly from lower-than-expected Content revenue and higher Corporate expenses. This was partially offset by solid results in Cable, where margins expanded 160bps q/q and revenue remained healthy at +15%, down only slightly from +16% in 1Q despite a more difficult comparison. The better-than-expected margins in Cable (and also at Sky) come despite better subscriber net adds. Higher corporate expenses reflect, in part, the impact of the higher stock price.”
A number of other firms have also recently commented on TV. Analysts at Citigroup Inc. downgraded shares of Grupo Televisa SAB from a “buy” rating to a “neutral” rating in a research note on Friday, June 27th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Grupo Televisa SAB in a research note on Wednesday, June 25th. They now have a $38.00 price target on the stock, up previously from $35.00. Finally, analysts at Zacks upgraded shares of Grupo Televisa SAB from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 18th. They now have a $36.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $37.80.
Shares of Grupo Televisa SAB (NYSE:TV) traded down 2.59% on Tuesday, hitting $34.59. The stock had a trading volume of 448,430 shares. Grupo Televisa SAB has a 52-week low of $24.58 and a 52-week high of $35.85. The stock has a 50-day moving average of $34.23 and a 200-day moving average of $31.86. The company has a market cap of $19.837 billion and a P/E ratio of 37.86.
Grupo Televisa SAB (NYSE:TV) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.14 by $0.03. Analysts expect that Grupo Televisa SAB will post $1.18 EPS for the current fiscal year.
Grupo Televisa SAB is a Mexico-based company engaged in the television broadcasting for the Spanish-speaking Latin American countries and in the international entertainment business sector.
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