ITV LN

ITV plc

TMT


Presented:01/30/2020
Price:£1.37
Cap:$8.41B
Current Price:£0.77
Cap:$4.63B

Presented

Date01/30/2020
Price£1.37
Market Cap$8.41B
Ent Value$8.57B
P/E Ratio12.3x
Book Value£0.17
Div Yield3.8%
Shares O/S3,998.42M
Ave Daily Vol10,120,230
Short IntN/A

Current

Price£0.77
Market Cap$4.63B
ITV plc engages in the production and broadcasting services. It operates through the Broadcast & Online, and ITV Studios segments. The Broadcast & Online segment offers commercial family of channels and delivers content through traditional television broadcasting. The ITV Studios segment creates and produces programs and formats that return and travel, namely drama, entertainment, and factual entertainment. The company was founded in September 1955 and is headquartered in London, the United Kingdom.

Publicly traded companies mentioned herein: ITV plc (ITV LN), Netflix Inc (NFLX), Walt Disney Co/The (DIS)

Highlights

The presenter is short shares of ITV plc (ITV LN), as he thinks the broadcast media business is facing secular headwinds both in linear TV advertising and the OTT market. Although ITV’s studio business isn’t fundamentally flawed, as it has benefited from OTT adoption, he believes broadcast linear TV advertising revenue will decline and negatively affect ITV’s ability to invest in quality programming. The stock currently trades at ~£136 per share, or a 7% - 8% FCF yield, with £300MM - £350MM of FCF. Given headwinds in linear TV advertising, the presenter believes the stock has a 30% - 40% downside. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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