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Mid-Cap

Two stocks that plunged - Seven West Media and Nine Entertainment

August 02, 2016 | Team Kalkine
Two stocks that plunged - Seven West Media and Nine Entertainment

Seven West Media Ltd


SWM Details
  • Weak outlook: Seven West Media Ltd (ASX: SWM) stock fell over 18.4% on August 02, 2016 after the company gave a weak guidance. SWM expects group EBIT to be down approximately 15% to 20% year on year for FY17 due to the combination of softer market conditions and increased content costs from the Olympics and the AFL. For full year, SWM announced a 2.5% drop in revenues and a 0.9% drop in net profit after tax (excluding significant items). On the other hand, the group expects Rio Olympics to drive the robust growth in television and digital market share, both through advertiser support. This would give the platform to launch not just programs but also the digital products while the value of the Olympic rights extends well beyond the 17 days of the Games. Moreover, SWM expects 25% revenue growth in FY 17 from third party productions and program sales, 150% growth in digital revenue. SWM stock has risen 21.76% (as on August 01, 2016) in the last six months.
  • Recommendation: We give a “Hold” recommendation on the stock at the current price of $0.845
 
Nine Entertainment Co Holdings Ltd


NEC Details
  • Impacted by peer’s weak outlook: Nine Entertainment Co Holdings Ltd (ASX: NEC) stock fell 14.6% on August 02, 2016 as the group’s peer issued a weak outlook. On the other hand, NEC had signed new regional television affiliation agreement with Southern Cross Austereo (SCA) for which SCA would pay Nine an affiliation fee of 50% of its television revenue. This is a five-year agreement in which SCA would broadcast Nine’s metropolitan free-to-air television content into regional Queensland, Southern NSW and regional Victoria from July 01, 2016. Additionally, NEC’s buy-back program would further drive the stock.
  • Recommendation: We give a “Hold” recommendation on the stock at the current price of $0.93

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The information given by Kalkine Pty Ltd ABN34 154 808 312 (Australian Financial Services License Number 425376) on this website is general information or advice only.

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