NEW YORK, October 10, 2016 /PRNewswire/ --
Advertisements, programs, and demographics drive demand in the TV Broadcasting industry, which operates studios and facilities that program and deliver audiovisual content to the public via over-the-air transmission. On average, companies in this space offer dividend yields that are below the wider market average. Today, Stock-Callers.com reviews the most recent performances of Grupo Televisa S.A.B. (NYSE: TV), Sinclair Broadcast Group Inc. (NASDAQ: SBGI), Gray Television Inc. (NYSE: GTN), and Tribune Media Co. (NYSE: TRCO). Register now and get full and free access to our downloadable research reports on these stocks at:
Last Friday, shares in Mexico City, Mexico-based Grupo Televisa S.A.B. ended the day 0.35% higher at $25.89. The stock recorded a trading volume of 1.25 million shares. Shares of the Company are trading below their 200-day moving average by 1.68%. Furthermore, shares of Grupo Televisa, which operates as a media company in the Spanish-speaking world, have a Relative Strength Index (RSI) of 50.63.
On September 27th, 2016, research firm Credit Suisse upgraded the Company's stock rating from 'Neutral' to 'Outperform'.Access our complete research report on TV for free at:
Sinclair Broadcast Group
Hunt Valley, Maryland headquartered Sinclair Broadcast Group Inc.'s stock finished Friday's session 0.14% lower at $28.46, with a total trading volume of 818,624 shares. Shares of the Company, which operates as a television broadcasting company in the US, are trading above their 50-day moving average by 0.04%. The stock has an RSI of 52.35.
On September 20th, 2016, the company, based on current and anticipated pacings of political advertising spending, revised its Q3 2016 media revenues to approximately $637 million to $638 million, up 28% as compared to Q3 2015, including approximately $46 million of political spending in the quarter. On August 3rd, 2016, the company provided guidance for Q3 2016 media revenues of approximately $649.2 million to $663.2 million, up 30.3% to 33.1% as compared to Q3 2015, and including $58 million to $68 million of political spending.
On September 27th, 2016, research firm Wedbush reiterated its 'Outperform' rating on the Company's stock with a decrease of the target price from $37 a share to $36 a share.The complimentary research report on SBGI can be downloaded at:
Shares in Atlanta, Georgia headquartered Gray Television Inc. ended the session 3.10% lower at $10.33, with a total trading volume of 810,154 shares. The stock is trading below its 50-day moving average by 4.50%. Shares of the Company, which owns and/or operates television stations and digital assets in the US, have an RSI of 44.67.
On September 20th, 2016, Gray Television announced that its Board of Directors unanimously voted to expand the Board by one seat and elected Richard B. Hare as a Director to fill that position. For over ten years, Mr. Hare has served as Senior Vice President and Chief Financial Officer of Carmike Cinemas, Inc. (CKEC), one of the nation's largest motion picture exhibitors with 273 theatres in 41 states. Mr. Hare has over 25 years of financial management experience and joined Carmike as its Chief Financial Officer in March 2006. Register for free on Stock-Callers.com and get access to the latest PDF format report on GTN at:
Chicago, Illinois-based Tribune Media Co.'s stock recorded a trading volume of 286,455 shares last Friday, and closed 1.89% lower at $35.34. The Company's shares have gained 6.56% on an YTD basis. The stock is trading 2.91% below its 200-day moving average. Additionally, shares of Tribune Media, which through its subsidiaries, operates as a media and entertainment company in the US, have an RSI of 39.15.
On September 28th, 2016, Tribune Media announced that it closed the sale of its Tribune Tower, Los Angeles Times Square (North Block) and Olympic Plant (Los Angeles) properties. In total, the company received $430 million in gross cash proceeds and could receive contingent payments of up to an additional $45 million, bringing total consideration to $475 million. So far in 2016, the company has sold nine properties for $519 million of gross cash proceeds or approximately $409 million of net cash proceeds. As a result of these nine sales, for full-year 2016, the company expects a reduction in rental revenues of $11 million and lower operating expenses of $5 million, which would result in a corresponding decrease in adjusted EBITDA of $7 million. Download your free research report on TRCO at:
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