Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Bear Stearns Ups Entravision to Outperform


Bear Stearns raised Entravision Communications (EVC) to outperform.

Analyst Victor Miller says the Spanish-language broadcasting company's second-quarter revenue and EBITDA beat his estimates. He notes TV revenue rose 11%, with both local and national ad spending up 11%. TV-broadcast cash flow rose 26%. Miller says same-station radio revenue rose 8%, while radio-broadcast cash flow rose 14%.

He notes outdoor operations are expected to contribute in the third quarter, with revenue growth of 7% after being down for the last four quarters. He says cost growth looks predictable, operating trends are apparent, and ratings trends are strong. Miller upped the $75 million 2004 EBITDA est. to $76.5 million as Entravision's second-quarter results and third-quarter guidance are better than expected. He sees $87.7 million in 20005 EBITDA, and set a $9.50 to $9.75 price target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus