Evolution of Southern Cross Media into Radio-Centric Group Continues
Shares in Southern Cross Media are trading at an attractive 29% discount to our AUD 1.40 fair value estimate per share.The recent stock underperformance may be attributed to cyclical concerns, especially the potential impact on advertising markets from weakening property prices. However, we believe our 2.9% revenue growth rate for the group (more than two thirds of group revenue in radio where Southern Cross is gaining ratings share) adequately accounts for the risk, and we maintain our 4.3% EB...
Southern Cross Media Group is engaged in the creation and broadcasting of content on free-to-air commercial radio (AM, FM and digital), television and online media platforms across Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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