Grupo Televisa, S.A.B. (NYSE:TV) Trading 6.3% Higher – Here’s Why

Grupo Televisa, S.A.B. (NYSE:TV)’s share price was up 6.3% on Thursday . The stock traded as high as $2.10 and last traded at $2.11. 578,779 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 2,132,149 shares. The stock had previously closed at $1.98.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TV. JPMorgan Chase & Co. lowered Grupo Televisa, S.A.B. from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. StockNews.com lowered shares of Grupo Televisa, S.A.B. from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. The Goldman Sachs Group reduced their price objective on shares of Grupo Televisa, S.A.B. from $2.50 to $2.20 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Benchmark reissued a “buy” rating and set a $7.00 target price (down previously from $8.00) on shares of Grupo Televisa, S.A.B. in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.23.

Grupo Televisa, S.A.B. Price Performance

The business’s 50-day moving average price is $1.89 and its 200 day moving average price is $2.05. The company has a market capitalization of $1.12 billion, a P/E ratio of -2.76 and a beta of 1.83. The company has a quick ratio of 2.41, a current ratio of 2.43 and a debt-to-equity ratio of 0.03.

Grupo Televisa, S.A.B. (NYSE:TV) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.91). Grupo Televisa, S.A.B. had a negative net margin of 11.69% and a negative return on equity of 5.73%. The business had revenue of $758.58 million for the quarter, compared to the consensus estimate of $15.49 billion. Analysts anticipate that Grupo Televisa, S.A.B. will post -0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Employees Retirement System of Texas bought a new stake in shares of Grupo Televisa, S.A.B. in the fourth quarter worth about $84,000. Millennium Management LLC increased its stake in shares of Grupo Televisa, S.A.B. by 109.2% during the fourth quarter. Millennium Management LLC now owns 356,624 shares of the company’s stock valued at $599,000 after buying an additional 186,165 shares during the period. Coastal Bridge Advisors LLC raised its holdings in shares of Grupo Televisa, S.A.B. by 79.9% during the fourth quarter. Coastal Bridge Advisors LLC now owns 103,224 shares of the company’s stock valued at $173,000 after acquiring an additional 45,852 shares in the last quarter. Bank of America Corp DE lifted its stake in Grupo Televisa, S.A.B. by 41.4% in the fourth quarter. Bank of America Corp DE now owns 222,202 shares of the company’s stock worth $373,000 after acquiring an additional 65,048 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in Grupo Televisa, S.A.B. by 13,477.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,749,042 shares of the company’s stock worth $2,938,000 after acquiring an additional 1,736,160 shares during the period. 55.77% of the stock is owned by hedge funds and other institutional investors.

About Grupo Televisa, S.A.B.

Grupo Televisa, SAB., together with its subsidiaries, owns and operates cable companies and provides direct-to-home satellite pay television system in Mexico and the United States. It operates through three segments: Cable, Sky, and Other Businesses. The Cable segment operates cable multiple system that provides basic and premium television subscription, pay-per-view, installation, Internet subscription, and telephone and mobile services subscription, as well as local and national advertising services; and telecommunication facilities, which offers data and long-distance services solutions to carriers and other telecommunications service providers through its fiber-optic network.