Still a Future Despite Market Betting on Sky Falling
Shares in Sky Network Television continue to languish and are now trading at a whopping 50% discount to our NZD 2.50 (AUD 2.40) fair value estimate. Some may urge a reduction in our intrinsic assessment to "follow" the stock price, such an action would be devoid of any rational reasoning.First, the outlook for near-term earnings is little changed. We continue to expect Sky to hit our fiscal 2019 EBITDA forecast of NZD 234 million, in line with management's NZD 230 to 235 million guidance. That ...
SKY Television and its subsidiaries operate as a provider of multi-channel pay television and free-to air services in New Zealand across a range of platforms and to various devices. Co. and its subsidiaries have a portfolio of content encompassing entertainment, sports, movies, news and others. As of June 30 2015, Co. and its subsidiaries broadcasted a total of 121 channels, which comprised of 46 basic channels, 12 sports channels, five specialist channels, nine movie channels, 12 free-to-air channels, eight radio channels, 14 audio music channels, one pay-per-view (PPV) event channel, 11 PPV movie channels, and three PPV adult channels.
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