Mediaset Espana: shares keep rising after 2018 results
(CercleFinance.com) - Mediaset Espana shares continue to rise on Friday for the third trading session in a row, after posting 2018 results that were ahead of expectations, largely thanks to cost cutting.
The Spanish TV broadcaster - which owns the Telecinco network - said last Wednesday that total net revenues fell to 981.6 million euros last year, compared to 996.3 million euros in 2017.
However, its net profit for the year rose to 200.3 million euros, up 1.4% from 2017.
Mediaset Espana - which remained the leader in Spanish TV audiences in 2018 - said that costs for 2018 fell to 707.6 million euros, representing savings of almost 4% compared to 2017 costs, despite the World Cup.
This morning, analysts Barclays have increased their target price for the share to 7.5 euros, while maintaining an "equal weight" rating on the share.
"The stock is inexpensive and still generates good cash flow, but top line momentum remains lacklustre," the broker said.
The Mediaset Espana shares are currently up 2.1% at 6.7 euros. They have gained 4% in three days.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Spanish TV broadcaster - which owns the Telecinco network - said last Wednesday that total net revenues fell to 981.6 million euros last year, compared to 996.3 million euros in 2017.
However, its net profit for the year rose to 200.3 million euros, up 1.4% from 2017.
Mediaset Espana - which remained the leader in Spanish TV audiences in 2018 - said that costs for 2018 fell to 707.6 million euros, representing savings of almost 4% compared to 2017 costs, despite the World Cup.
This morning, analysts Barclays have increased their target price for the share to 7.5 euros, while maintaining an "equal weight" rating on the share.
"The stock is inexpensive and still generates good cash flow, but top line momentum remains lacklustre," the broker said.
The Mediaset Espana shares are currently up 2.1% at 6.7 euros. They have gained 4% in three days.
Copyright (c) 2019 CercleFinance.com. All rights reserved.