Outlook: On the front foot
STV is capitalising on a favourable advertising backdrop, strong brand identity and the high level of interest in Scotland. It is launching new local and digital products and making good progress towards its goal of deriving a third of EBIT from non-broadcast activities by the end of 2015. We have increased our profit estimates (in line with consensus) and today’s pension valuation announcement is as we expected. With a much improved balance sheet and TV licences confirmed to the end of 2024, STV’s 2014e P/E of 10.0x and EV/EBITDA of 7.9x suggest further share price upside.STV Group is engaged in the production and distribution of content across various devices and platforms, including television broadcasting, and the sale of advertising airtime and space in these media. Co. is focused on its television and digital media businesses and is also involved in supporting charitable activities including the operation of its subsidiary, STV ELM Limited, to provide services to the Scottish Children's Lottery. Co. has three reportable segments: Consumer, Productions and External Lottery Management.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.