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Entravision Communications Corporation (EVC)

NYSE - NYSE Delayed Price. Currency in USD
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5.85+0.10 (+1.74%)
At close: 4:02PM EDT
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  • EVC was at $5.50 yesterday morning when the annual meeting started and ran to $5.90 this evening bucking the sector trend. We also had help from the NXST acquiring TGNA report that came out late A.M. today. They also issued yesterday based price at the time 12,173 restricted shares the 5 BOD's get for free in one year. If the stock had been $7 it would have only been about 9500 shares. You have to wonder if they tried to keep the price down.........
    However, I suspect something was said at the meeting that sparked some upward movement started to fly to L.A. to ask some questions. I wish I had now. This whole management team is using EVC for their own personal ATM machine. I am out at $7+/-.
  • I just have to shake my head on EVC. If you back out the $264 million or just under $3 cash per share you are buying EVC for $2.50+/- a share. FCF at 50 cents and 2%+ cash annual dividend. The concern is what is management going to do with the money? The CEO was just reported to having been the highest overpaid exec in broadcasting taking in 1.84% of all top line revenues. He also controls over 50% of the voting shares and Univision controls if they can get bought out or not and by whom. A real sticky wicket here. Then, execs have been dealing with Univision for 2+ years on reverse comp. Q1 EVC reported 7% growth and Univision 20% so that tells me Univision is taking more than the previous 60% cut which also was already the highest in the industry. I state all this because of the $3+/- in cash and hopefully more from other channel sharing deals. This company has little or no future IMVHO. They talked months ago about making a "transformational" acquisition outside tv, radio and digital. Nothing to date. The CEO also got about $136 million for selling an L.A. tv station in the auction. It's like pulling teeth to get these guy to do any kind of positive press release. Appears to me they are trying to keep the stock price down for the CEO or Univision to buy or take private. I have been taking diligent notes and will be first in line to file a class action if CEO tries to steal the company.
    The $32.5 million purchase of channel sharing in D.C. with 11 times the viewers could be a game changer. These guys have never made an accretive acquisition to my knowledge. They overpaid for their radio assets by about $200 million and then overpaid for Pulpo which is having sales decreases now. I think the Headway deal will look good for 6-12 months and then go downhill as well. I am out of this puppy at $7+/-. DaninFW
  • After my last post I wanted to share some trading thoughts. I also assume EVC will pay 50 cents to a dollar special dividend after they receive the cash. For me, I hold about a third of my shares in non-IRA accounts. I will only have to pay 15%+/- tax on this distribution. On the day the dividend is paid, the stock price of EVC is adjusted. Hopefully I have a capital gain still. If it drops below my average cost....then I can sell and take a 35%+/- tax credit. Of course, they are talking changes in the tax code so this is a moving target. DaninFW
  • Pulcrum est mundus, qui non parum conducant legit. http://dataunion.tistory.com/7383

    MAY-2016 Entravision Communication NYSE : EVC Correlation Histogram
    X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks May-2016 1,000 Day Parameter 4,338 NYSE Stocks Price Analysis This stock mode of correlation coefficient is 0.8 In other words, the correlation coefficient of the other stocks
  • Based on this release today, EVC should get their $264M around 8-25-17:
    "According to the FCC schedule, all winning bidders must cough up the balance of their payments (each had to make a down payment) by 6 p.m. on May 11 (wire transfers, please, no checks or credit cards). If not in by that date, they will be charged a late fee of an additional 5%, so long as they get it in by May 25. If both deadlines are missed, the bidder will be in default.

    It will probably take another three months or so after that, if past auctions are any gauge, before that money changes hands again as the FCC pays broadcasters their winning bid amounts—NBC, for example, is getting $481.6 million for the spectrum of flagship WNBC New York and Telemundo affiliates WWSI Philadelphia and WSNS Chicago, though in each case it will maintain the programming through sharing agreements with duopoly partners."
  • Never thought we would get this low again. There is virtually no selling just no buyers. Weak hands getting out. This evening should get us back in that $6.10-$6.40 trading call tomorrow. Hoping we get some more good news about channel sharing. I could see where EVC could get another $30-50 million for channel sharing. It's also odd to me that Univision has not reported yet. They always report before EVC. This stock is going to trade in a very narrow channel till they get the money in 3-6 months. Almost dead money till then without a catalyst. DaninFW
  • By moving WUVN from Hartford to Washington D.C., EVC just increased their FCC coverage from 13.9% to about 16.4% for only $32.5 million. That is truly incredible. Once this new station gets up and running it could generate 11 times the revenue of the Hartford location. It's now 8 million sets of eyeballs versus just 900,000. It will be interesting to see what programming they carry. DaninFW
  • I think I stated this before but the CEO of EVC also owns LATV which owns KJLA in L.A. and just happened to have sold the station for only $135,592,845 in the spectrum auction. The CEO of EVC has almost $136 million and EVC has $264 million soon. That's $400 million the CEO controls now. Is there a reason they are trying to keep a lid on EVC stock price? One has to wonder. DaninFW
  • EVC closed on Headway acquisition on 4-04-17 for $12M cash. Should produce $22+ million for remainder of 2017 and $30+/- million in 2018. EBITDA of $3-4 million in 2017 and $4-5 million in 2018. I also expect when they report earnings presumably next Thursday after close they should announce additional channel sharing agreements and how much to add to the already announced $264 million. Could see nice run if agreements are material. DaninFW
  • Now, one that I am starting to find interesting is SBSAA. The company's market cap is about $2.7+/- million which is less than the $3+ million the top three execs get paid. But, get these numbers:

    EV is $407M

    Revenues are $146M

    Interest Expense is $49.6M

    Operating Income $42.2M

    We know the bondholders met with EVC. If EVC was to say use their $264 million plus half their other cash and pay $300M and finance $100M at say 6% this could be a gold mine. The current $400M in debt at SBSAA is at 12.5% which is why they aren't profitable. So, if you take the $42.2M in operating income minus $6M for interest on $100M in debt you get $36.2M in operating income. They could easily cut $3.8M in salaries starting with the top three execs. That gets us to $40 million. Has to be many more synergies as well including real estate and redundant positions. I think $45M is not out of line. However, that would be 50 cents EPS per share. This could get the FCF at EVC from 50 cents to $1.00 or more. It would make EVC worth $8-10 at least.
    It should also be noted that CEO of EVC also owns LATV which sold KJLA for $135,592,845 in the auction. Both the CEO and EVC must invest this $400+/- million in similar assets including stock in similar companies or pay 35-40% tax. A no-brainer. I also would not be surprised if CEO and EVC combine to take it over. Lot's of permutations.
    I would like to lknow how many are still out there since Yahoo tried to run all of us off. We have put together an e-mail group of about 18 of us that used to post here to get away from all the nutcases. I would appreciate it if each of you readers would hit like or dislike just to get a headcount. Thanks. DaninFW
  • The scenarios are quite interesting at current levels for EVC. Im not sure about you guys but awe-someSTOCKS has provided me with some pretty good trade ideas. I messed up executing some of them but thats on me.
  • If we are to go off the performance % (quarter|performance % (q)|performance (quarter)} which is -17.14%, then you could argue that a pull back on EVC next day or so could occur before rallying up. Not sure how awesomeSTO-CKS finds all these incredible trade ideas but im happy.
  • Something has been in the back of my mind since I first listened to the Noble Presentation about 2 weeks ago. I just listened to it again and even went back and played back certain comments a few times. I am going to paraphrase but this is what I heard:
    1) When asked about any auction proceeds he said they would look first at paying down debt to 1-2 turns and use the rest for M&A and return to shareholder. Why would he say something like this unless they got a lot of money. To pay down debt to 1-2 turns and I think they are about 4X+/- and they have about $280+/- in debt means alone about $140-210 million in debt pay down and he said the rest for the purposes I stated. They have always said 1/3 for each. Guys, I know I want to hear what I think I heard but you need to listen to this presentation. If I extrapolate this I get $400-600 million from auction. He has got to be talking $200+ million if just debt pay down a just a few million here and there.
    2) To support this assumption, he also mentioned the 1031 first and procedures to buy stations so they would be tax free. Then, he went on to say they found the most interesting one the 1033 which allowed you to basically buy an entire company that owned FCC licenses. W eare talking major bucks if they are more interested in the 1033 IMVHO.
    3) He closed with saying they didn't like all their eggs in one basket and there was interest in looking at something major outside tv, radio and digital. He said they were pursuing that. All this takes money.
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  • Haven't posted in a while except within our group of 15 by e-mail but just wanted to say a few things. Management has misse3 out of the last four quarters and met just once. Yet, yesterday they granted the top 5 executives 382,000 free shares worth $2.58 million with CEO getting 250,000 of them or almost $2 million. That alone is about three times what the average CEO would get for an entire year for running a company this size. Their FCF is also slipping, they are losing money in radio segment and barely single digital growth in digital. What a scam these guys are for rewarding themselves when someone or several of them should be fired or replaced for such a terrible job. Their FCF is less than 1-2 years ago in a political year and at 50 cents and a 7X FCF which is generous since 30%+ of their revenues is radio makes their stock worth just $3.50 without spectrum. Current price has at least $3-4 in anticipated spectrum sales. It better happen or this could easily be a $3-4 stock in 2017. DaninFW
  • EVC Founded in 1996 and headquartered in Santa Monica, Calif., Entravision has a strong presence in markets with a high Hispanic population, including ones in California, Florida, Texas, and Colorado. The broadcaster is the largest affiliate group of Univision, the leading Spanish-language network in the U.S.
  • 2017 could bring some positive catalysts, writes David Englander. Chief among them could be the FCC's spectrum auction. Thanks to Entravision's (EVC +6%) exposure to coastal markets, Wedbush's James Dix puts the after-tax value of a sale of the company's spectrum at $600M.

    The company is also in a good spot to benefit from continued growth in the Hispanic population.
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