A director at STV Group bought 10,000 shares at 218p and the significance rating of the trade was 52/100. 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 last two years clearly showing ...
5th June 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 22nd May: Raspberry Pi announces an intention to float onto the Premium listing segment of the Main Market. Raspberry Pi is a designer and developer of high...
The Great Correction of 2022 saw the share prices of streamers plunge after market leader Netflix reported a slowdown/fall in subscriber growth. Having formerly been seduced by hectic subscriber growth rates, investors quickly refocused, this time on fundamental metrics such as revenue, margins, profits and cashflow. Since then, streamers have continued to take a steadily greater share of viewing while linear TV continues to decline. But growth in streaming subscribers in the US and UK is now a ...
7 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective...
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....
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
A strong performance from the higher-margin regional and digital sales has enabled STV to drive strong growth in operating profit. The interim and full year dividend have been increased by 33% and 20% respectively and new KPI targets for 2018 introduced to support STV’s ongoing strategy to diversify the group’s broadcast franchise.
STV is on track for a good first half with growth across the board, particularly in digital and production. On a 9.5x FY16e P/E with dividend support, the share offers good value. Furthermore, the valuation of the defined pension deficits will conclude in this quarter, which should clarify STV’s cash commitments for the next three years and may pave the way for special dividends further out.
Overall PBT was in line with our forecasts, with stronger performance from STV Player offsetting weaker performance in production. FY16 should be more balanced and we forecast revenue growth across all key divisions. The outcome of regulatory reviews in the coming months and several company-specific initiatives may provide support, if not a boost, to our forecasts and the share price.
We expect a return to revenue growth in FY16. Investment in Production should start to deliver and in Consumer STV is finding an increasing number of ways to leverage its strong brand. The target of 10% CAGR in EPS to FY17 looks achievable and forecasts may benefit from changes in regulation. On a c 40% P/E discount to peers, the shares look good value.
STV continues to strengthen its position as Scotland’s leading commercial TV broadcaster. Digital is growing strongly and City TV is successfully attracting new advertisers to television, although start-up losses left H115 profits lower, as expected. H215 has started well and our full year PBT estimates are unchanged. Net debt continues to reduce and management reaffirmed both its intention to pay a 10p full year dividend (the interim was lifted by 50%) and its target of 10% CAGR EPS growth (2...
STV’s AGM trading update confirms that the year has started in line with expectations, with strong growth in digital revenues (up 33% in Q115) offsetting a slightly mixed TV advertising market. Our estimates are unchanged although we expect a slightly greater than usual weighting to the second half. STV is successfully leveraging its brand across new local and digital services, and the 2015e EV/EBITDA of 6.8x looks too low.
A reminder that ITV publish their FY14 numbers tomorrow and that this may provide further guidance on air-time trends and the matter of potential re-transmission fees. Excellent final results were accompanied by a surprise hike in the dividend to 8p (forecast 6p) and a new target for 10% CAGR in EPS over the next three years. Most of the growth will come from digital and local services as STV leverages its brand across its family of channels, with the margin on national airtime sales now broadly...
Excellent final results were accompanied by a surprise hike in the dividend to 8p (forecast 6p) and a new target for 10% CAGR in EPS over the next three years. Most of the growth will come from digital and local services as STV leverages its brand across its family of channels, with the margin on national airtime sales now broadly locked in, de-risking the business. The 2015e P/E is only 9.3x, well below the peer group, and the yield is 2.7%, suggesting plenty of scope for further share price ou...
A Q3 IMS from STV confirms that trading is on track to meet full year estimates, with advertising revenues up 6% and digital up 15-20%. STV is continuing to extend its brand both locally, including new city TV stations, and on digital platforms such as the recently launched Amazon Fire TV. The shares continue to look very good value on a 2014e P/E of 9.6x and EV/EBITDA of 7.7x, both a material discount to the sector average.
Excellent interims were accompanied by a surprise hike in the dividend, doubled from previous guidance. H114 PBT increased by 25% on revenues up 7%, debt continues to decline and STV Glasgow has made a promising start. Whichever way the September referendum goes, STV’s licences are secure and it is leveraging its strong brand identity with a growing family of products. Its modest 2014e P/E of 10.2x and EV/EBITDA of 8.1x suggest further share price upside.
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