Grupo Televisa, S.A.B. (NYSE:TV) Shares Gap Down After Earnings Miss

Shares of Grupo Televisa, S.A.B. (NYSE:TV) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.07, but opened at $2.01. Grupo Televisa, S.A.B. shares last traded at $1.96, with a volume of 502,373 shares changing hands.

The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.91). Grupo Televisa, S.A.B. had a negative return on equity of 5.68% and a negative net margin of 10.88%. The company had revenue of $758.58 million for the quarter, compared to analyst estimates of $15.49 billion.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TV shares. JPMorgan Chase & Co. cut shares of Grupo Televisa, S.A.B. from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. The Goldman Sachs Group cut their target price on shares of Grupo Televisa, S.A.B. from $2.50 to $2.20 and set a “buy” rating on the stock in a report on Tuesday, January 28th. StockNews.com cut shares of Grupo Televisa, S.A.B. from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. Finally, Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of Grupo Televisa, S.A.B. in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Grupo Televisa, S.A.B. currently has an average rating of “Hold” and an average price target of $4.57.

Hedge Funds Weigh In On Grupo Televisa, S.A.B.

A number of hedge funds and other institutional investors have recently bought and sold shares of TV. Millennium Management LLC boosted its position in shares of Grupo Televisa, S.A.B. by 109.2% during the 4th quarter. Millennium Management LLC now owns 356,624 shares of the company’s stock worth $599,000 after purchasing an additional 186,165 shares in the last quarter. Coastal Bridge Advisors LLC boosted its position in shares of Grupo Televisa, S.A.B. by 79.9% during the 4th quarter. Coastal Bridge Advisors LLC now owns 103,224 shares of the company’s stock worth $173,000 after purchasing an additional 45,852 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Grupo Televisa, S.A.B. by 41.4% during the 4th quarter. Bank of America Corp DE now owns 222,202 shares of the company’s stock worth $373,000 after purchasing an additional 65,048 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Grupo Televisa, S.A.B. by 13,477.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,749,042 shares of the company’s stock worth $2,938,000 after purchasing an additional 1,736,160 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Grupo Televisa, S.A.B. by 57.9% during the 4th quarter. Northern Trust Corp now owns 64,512 shares of the company’s stock worth $108,000 after purchasing an additional 23,648 shares in the last quarter. 55.77% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Televisa, S.A.B. Stock Down 6.2 %

The company has a market capitalization of $1.08 billion, a PE ratio of -2.74 and a beta of 1.83. The firm’s 50-day simple moving average is $1.87 and its 200 day simple moving average is $2.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.41 and a current ratio of 2.43.

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.