A director at Southern Cross Media Group Limited maiden bought 50,000 shares at 0.660AUD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over...
The general evaluation of SOUTHERN CROSS MEDIA (AU), a company active in the Broadcasting & Entertainment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 8, 2022, th...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Management's concerted efforts to promote Southern Cross Media as a stable radio entity are gaining traction. Shares are up almost 30% in 2019 to-date (excluding the AUD 0.0375 interim DPS paid in April), and are now trading just 8% below our unchanged AUD 1.40 per share fair value estimate. There has been an extensive showcasing of Southern Cross' unrivalled portfolio of leading commercial radio properties over the past year. The recent reclassification of segmental financial disclosure has fu...
Management's concerted efforts to promote Southern Cross Media as a stable radio entity are gaining traction. Shares are up almost 30% in 2019 to-date (excluding the AUD 0.0375 interim DPS paid in April), and are now trading just 8% below our unchanged AUD 1.40 per share fair value estimate. There has been an extensive showcasing of Southern Cross' unrivalled portfolio of leading commercial radio properties over the past year. The recent reclassification of segmental financial disclosure has fu...
Management's concerted efforts to promote Southern Cross Media as a stable radio entity are gaining traction. Shares are up almost 30% in 2019 to-date (excluding the AUD 0.0375 interim DPS paid in April), and are now trading just 8% below our unchanged AUD 1.40 per share fair value estimate. There has been an extensive showcasing of Southern Cross' unrivalled portfolio of leading commercial radio properties over the past year. The recent reclassification of segmental financial disclosure has fur...
Southern Cross Media's fiscal 2019 first-half performance showed solid underlying fundamentals. Underlying EBITDA grew 6% year on year to AUD 83 million, driving an 11% lift in underlying net profit after tax, or NPAT, to AUD 42 million. Almost all the operating earnings were converted to cash, with free cash flow amounting to AUD 66 million for the half, up 15%. This led to a further deleveraging of the balance sheet and net debt/EBITDA now stands at 1.7, down from 1.8 six months ago and at the...
An investment in Southern Cross Media requires weighing the solid positioning of its radio and regional TV operations against the structural challenges facing these industries from proliferating competition for viewers and advertising dollars. However, the group boasts undisputed market leadership in the structurally-resilient radio industry and a portfolio of affiliate regional TV stations leveraged to the resurgent ratings of Nine Network. Further, thanks to aggressive deleveraging efforts, th...
Southern Cross Media's fiscal 2019 first-half performance showed solid underlying fundamentals. Underlying EBITDA grew 6% year on year to AUD 83 million, driving an 11% lift in underlying net profit after tax, or NPAT, to AUD 42 million. Almost all the operating earnings were converted to cash, with free cash flow amounting to AUD 66 million for the half, up 15%. This led to a further deleveraging of the balance sheet and net debt/EBITDA now stands at 1.7, down from 1.8 six months ago and at the...
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...
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% E...
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 reported a 13% decline in EBITDA for fiscal 2018, in line with our expectation, to AUD 155 million. Despite lower revenue from the sale of the northern New South Wales television business, fundamentals are encouraging with like-for-like sales up 0.6%. Critically, revenue growth has stepped up to 5% so far in fiscal 2019, while the continuing ratings recovery for the metropolitan radio unit is highly encouraging. A such, we have upgraded our fair value estimate for no moat-ra...
Southern Cross Media reported a 13% decline in EBITDA for fiscal 2018, in line with our expectation, to AUD 155 million. Despite lower revenue from the sale of the northern New South Wales television business, fundamentals are encouraging with like-for-like sales up 0.6%. Critically, revenue growth has stepped up to 5% so far in fiscal 2019, while the continuing ratings recovery for the metropolitan radio unit is highly encouraging. A such, we have upgraded our fair value estimate for no moat-ra...
Southern Cross Media reported a 13% decline in EBITDA for fiscal 2018, in line with our expectation, to AUD 155 million. Despite lower revenue from the sale of the northern New South Wales television business, fundamentals are encouraging with like-for-like sales up 0.6%. Critically, revenue growth has stepped up to 5% so far in fiscal 2019, while the continuing ratings recovery for the metropolitan radio unit is highly encouraging. A such, we have upgraded our fair value estimate for no moat-ra...
There are fears Southern Cross Media may be left out of media sector consolidation, especially with the proposed Nine-Fairfax combination potentially cooling interest for the no-moat-rated TV and radio broadcaster. If the concern is this will lead to a reversal of the 26% stock price rally since early April 2018, then we view this as misplaced. The recent performance merely brings Southern Cross shares to our AUD 1.30 fair value estimate on a stand-alone basis. Shares are trading at just 12.3 ti...
There are fears Southern Cross Media may be left out of media sector consolidation, especially with the proposed Nine-Fairfax combination potentially cooling interest for the no-moat-rated TV and radio broadcaster. If the concern is this will lead to a reversal of the 26% stock price rally since early April 2018, then we view this as misplaced. The recent performance merely brings Southern Cross shares to our AUD 1.30 fair value estimate on a stand-alone basis. Shares are trading at just 12.3 t...
There are fears Southern Cross Media may be left out of media sector consolidation, especially with the proposed Nine-Fairfax combination potentially cooling interest for the no-moat-rated TV and radio broadcaster. If the concern is this will lead to a reversal of the 26% stock price rally since early April 2018, then we view this as misplaced. The recent performance merely brings Southern Cross shares to our AUD 1.30 fair value estimate on a stand-alone basis. Shares are trading at just 12.3 t...
There are fears Southern Cross Media may be left out of media sector consolidation, especially with the proposed Nine-Fairfax combination potentially cooling interest for the no-moat-rated TV and radio broadcaster. If the concern is this will lead to a reversal of the 26% stock price rally since early April 2018, then we view this as misplaced. The recent performance merely brings Southern Cross shares to our AUD 1.30 fair value estimate on a stand-alone basis. Shares are trading at just 12.3 ti...
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