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CBS

CBS

$62.48

1.77 (2.92%)

, SBGI

Sinclair Broadcast

$34.25

0.15 (0.44%)

10:02
06/12/17
06/12
10:02
06/12/17
10:02

CBS, Sinclair Broadcast report affiliation agreement renewals

CBS (CBS) and Sinclair Broadcast Group (SBGI) announced a multi-year deal that renews station affiliation agreements for four of its owned or operated stations, including KUTV in Salt Lake City, Utah; KEYE in Austin, Texas; WSBT in South Bend, Ind.; and WGFL in Gainesville, Fla. The four renewed markets serve more than 2M households. The new deal also includes the renewal of participation in CBS All Access plus a commitment to distribution of Sinclair's CBS affiliates via the new YouTubeTV live television service in markets where the offering is available. In addition, the companies agreed to assign Tribune's (TRCO) CBS affiliation agreements to Sinclair upon planned closing of the merger.

CBS

CBS

$62.48

1.77 (2.92%)

SBGI

Sinclair Broadcast

$34.25

0.15 (0.44%)

TRCO

Tribune Media

$39.59

0.48 (1.23%)

  • 15

    Jun

  • 17

    Jun

CBS CBS
$62.48

1.77 (2.92%)

04/27/17
WEDB
04/27/17
NO CHANGE
WEDB
CBS valuation 'largely compensates' for strike risk, says Wedbush
Wedbush analyst James Dix says that CBS' ratings and revenue could be adversely affected if a threatened writers' strike materializes. However, the analyst says that the stock's valuation "largely compensates" for this risk. His 2017 and 2018 estimates for the company, which assume a strike does not occur, are above consensus levels. He keeps a $77 price target and an Outperform rating on the shares.
04/28/17
NEED
04/28/17
NO CHANGE
Target $80
NEED
Buy
CBS price target raised to $80 from $72 at Needham
Needham analyst Laura Martin raised her price target for CBS to $80 from $72 based on higher revenue and EPS estimates in 2018 tied to higher expectations in the Local Broadcasting division which should benefit from higher political revenue and profitability. The analyst reiterates a Buy rating on the shares.
05/15/17
LOOP
05/15/17
NO CHANGE
Target $76
LOOP
Buy
CBS in 'enviable position' ahead of upfront presentation, says Loop Capital
Loop Capital analyst David Miller noted that CBS will finish as the number one network in total viewers for the fourteenth time in fifteen years when the 2016-2017 broadcast season ends this month and that the company's flagship network has no "glaring weakness" within any day or day-part. This makes CBS the one broadcast or cable network that has real leverage over media buyers as "upfront" negotiations begin next week, said Miller, who keeps a Buy rating and $76 price target on CBS shares.
05/19/17
RBCM
05/19/17
NO CHANGE
RBCM
CBS is predator and prey,' says RBC Capital
As the situation deteriorates for media companies due to accelerating cord cutting and weak ad trends, RBC Capital analyst Steven Cahall thinks that companies in the sector will look to consolidate.He believes that CBS (CBS) could buy Lionsgate (LGF.A,LGF.B) in a deal that would be 5% accretive and be viewed favorably by the market or the TV network could be acquired by Verizon (VZ). However, the analyst thinks the most likely scenario is an acquisition of Viacom (VIAB) by CBS.
SBGI Sinclair Broadcast
$34.25

0.15 (0.44%)

05/04/17
WELS
05/04/17
NO CHANGE
WELS
Sinclair Broadcast weakness overdone, says Wells Fargo
Wells Fargo blamed the decline in Sinclair's (SBGI) stock on what it sees as the company's "soft" Q2 guidance and Time Warner's (TWX) comments about soft national ad trends. However, Wells says that Sinclair's reiteration of its 2017-2018 free cash flow guidance and "continued diversification" are more important. Wells says that the stock's weakness is overdone and keeps an Outperform rating on the stock.
05/08/17
WELS
05/08/17
NO CHANGE
WELS
Outperform
Wells Fargo likes Sinclair's acquisition of Tribune Media
Wells Fargo analyst Marci Ryvicker likes Sinclair Broadcast's acquisition of Tribune Media (TRCO). The deal was done at a "very attractive" multiple and is "clearly accretive" to free cash flow, Ryvicker tells investors in a research note. Applying 40% of free cash flow accretion per share, the analyst arrives at a "fair market value" price for Sinclair of $55 per share. The stock in early trading is up $1.12 to $38.08.
05/12/17
WELS
05/12/17
NO CHANGE
WELS
Sinclair Broadcast 'weakness completely unwarranted,' says Wells Fargo
After Sinclair (SBGI) announced that it had agreed to buy Tribune Media (TRCO) on May 8 and Tribune's stock fell over 5% since then, Wells Fargo calls Tribune's weakness "completely unwarranted." The firm says that the deal is significantly accretive to Sinclair's free cash flow. It adds that Sinclair is outperforming its peers in advertising ,while its leverage could drop to four times by 2018. Wells keeps an Outperform rating on Sinclair.
06/02/17
SPHN
06/02/17
NO CHANGE
SPHN
Overweight
Regulatory uncertainty may cause volatility for Sinclair, Tribune, says Stephens
Stephens analyst Kyle Evans noted that a federal court has temporarily delayed effectiveness of the FCC's decision to reinstate the UHF discount, which he said is critical for Sinclair Broadcast's (SBGI) deal to acquire Tribune Media (TRCO). The deal could be jeopardized if the court permanently blocked the UHF discount and regulatory uncertainty may cause volatility in the stocks, said Evans. The analyst reiterates his Overweight rating and $46 price target on Sinclair shares.
TRCO Tribune Media
$39.59

0.48 (1.23%)

04/20/17
WELS
04/20/17
DOWNGRADE
WELS
Market Perform
Tribune Media downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Marci Ryvicker downgraded Tribune Media to Market Perform saying she no longer believes the company is going to be sold at a share price materially higher than current levels. Ryvicker lowered her estimates to reflect a tougher Q1 and cut her price target range for the shares to $38-$40 from $40-$44.

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ANDX

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, WNRL

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Upgrade
Andeavor Logistics, Western Refining Logistics rating change  »

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GD

General Dynamics

$200.61

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BLVD

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FMBH

First Mid-Illinois Bancshares

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Syndicate
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NCOM

National Commerce

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AMGN

Amgen

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WLK

Westlake Chemical

$71.03

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BBOX

Black Box

$3.75

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BCOR

Blucora

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BGG

Briggs & Stratton

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CSCO

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MED

Medifast

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DSKE

Daseke

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QEP

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CSCO

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LB

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LB

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LGL

LGL Group

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NLST

Netlist

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PRAH

PRA Health

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