|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||18.31 - 18.40|
|52 Week Range||12.64 - 21.02|
|Beta (5Y Monthly)||0.89|
|PE Ratio (TTM)||13.36|
|Forward Dividend & Yield||0.67 (3.60%)|
|Ex-Dividend Date||Oct 23, 2019|
|1y Target Est||N/A|
ITV appeared on the M&A watch lists of 6 out of 20 event-driven traders, analysts, brokers and fund managers surveyed by Bloomberg News. Yes, that’s right, for the fourth year in a row ITV is on a list of companies most likely to be taken over.
(Bloomberg) -- The absence of a long-speculated bid for ITV Plc hasn’t deterred merger and acquisition desks from naming the U.K. broadcaster as Europe’s most likely takeover target for a fourth year in a row.ITV appeared on the M&A watch lists of 6 out of 20 event-driven traders, analysts, brokers and fund managers surveyed by Bloomberg News. That follows a year in which the shares hit a multi-year low, before rallying to post a first annual gain in four.The continued presence of John Malone’s Liberty Global Inc. as the company’s second-largest shareholder has kept takeover hopes alive, while increased clarity on Brexit after the outcome of Britain’s general election also provided a boost for the shares. At the same time, the battle for content that will win eyeballs has been heating up. ITV launched U.K. streaming service BritBox with the British Broadcasting Corp. last year in a bid to compete with the likes of Netflix Inc. and Amazon.com Inc. Walt Disney Co.’s new streaming service, Disney+, is also reported to be launching in the U.K. this March. Despite the recent rally, ITV’s shares have been in the doldrums since 2016, with advertising sales under pressure from Brexit uncertainty as well as an industry shift in spending to digital companies such as Facebook Inc. and Alphabet Inc.’s Google. Chief Executive Officer Carolyn McCall, who has led the company since January 2018, has sought to cut costs while launching BritBox to reduce reliance on ad sales. Analysts have criticized the platform as being “too little, too late” in the streaming wars.Recent acquisitions of Sky Ltd. and Entertainment One Ltd. by U.S. companies have also stoked speculation that ITV could be a target for an overseas firm, while back in 2017 a press report mentioned U.S. tech giants such as Netflix, Amazon and Apple Inc. as potential suitors. Among upcoming catalysts, investors will be watching ITV’s full-year results due at the beginning of March.Luxury brand Moncler Spa and Dutch molecular-testing firm Qiagen NV also featured highly on trader watch lists. The former’s shares surged to a record last month on reports that rival Kering SA could be interested in a potential deal for the Italian ski-wear maker. Qiagen said in December it intended to pursue a stand-alone strategy, a month after announcing it received several indications of interest.According to Louis Capital’s Ben Kelly, the pace of consolidation in Europe is likely to gain momentum this year. Companies aren’t expected to worry about leveraging up their balance sheets for M&A given the low interest-rate environment, while private equity still has a lot of money to put to work and activists are more present than before, he said.“Increased political certainty in the U.K. and Europe and continued share-price strength could see companies looking to use their own paper to do deals, and bolstering that with cash where necessary,” Kelly said.Despite last year’s geopolitical tensions, almost $3 trillion of global mergers and acquisitions were done in 2019, a 1.5% dip from 2018 but still the fifth-best year ever. Goldman Sachs remained the top-ranked deal-maker in 2019, advising on 281 transactions worth $1 trillion, according to data compiled by Bloomberg.Survey participants named 75 companies as potential targets, including: Asos Plc and Smith & Nephew Plc in the U.K., Accor SA and Aeroports de Paris in France, and Norwegian Finans Holding ASA in Norway.Several stocks included in last year’s predictions have since either been acquired or held merger talks. These include: Osram Licht AG, Scout24 AG, Inmarsat Plc, Entertainment One Ltd., Deutsche Bank AG and Commerzbank AG.Click here for the complete survey results.(Adds detail on share price performance, additional context on ITV.)\--With assistance from Kit Rees.To contact the reporter on this story: William Canny in Amsterdam at firstname.lastname@example.orgTo contact the editors responsible for this story: Celeste Perri at email@example.com, Paul Jarvis, Beth MellorFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While it may not be enough for some shareholders, we think it is good to see the ITV plc (LON:ITV) share price up 17...
Investing.com -- Here is a summary of the regulatory releases from the London Stock Exchange on Tuesday, 12th November. Please refresh for updates.
French media company Banijay is close to sealing a deal to acquire Endemol Shine, the production house behind such global television hits as "The Voice" and "Black Mirror," a source close to the matter said on Tuesday, confirming earlier media reports. The deal would end a months-long, bumpy race for Endemol Shine to find a buyer. Netherlands-based Endemol, co-owned by Walt Disney Co and private equity group Apollo Global Management , was put up for sale in July 2018 with a price tag of 2.5 billion euros-3 billion euros ($2.78 billion-$3.34 billion).
Investing.com - The U.K. and EU will not announce a deal on Brexit Wednesday, according to several published reports. But a deal could still be announced later in the week as it was unclear at what juncture negotiations were at.
Moody's Investors Service ("Moody's") has today assigned a Baa3 instrument rating to the new EUR600 million senior unsecured notes due 2026 issued by ITV plc (ITV or the company). The rating action follows the announcement by ITV that it has issued EUR600 million of senior unsecured notes due 2026.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of ITV plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
(Bloomberg) -- Netflix Inc.’s biggest earnings surprise in years sent the shares plummeting the day after results were released, leaving analysts and investors wondering why they were caught so off guard.When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix.Instead, the company dropped a bombshell with no warning: Its customer growth was roughly half what it projected, and Netflix actually lost U.S. subscribers during the period. That hasn’t happened since 2011, when the company made a disastrous attempt to split up its streaming and DVD-by-mail operations.The fallout on Thursday included the worst stock rout in three years, with the stock declining 10% to erase more than $16 billion in market value. Shares in Netflix extended those declines on Friday, falling 3.1% to $315.10 per share, their lowest since January. The stock has fallen for seven consecutive sessions, the longest losing streak in nearly four years.“You would think Netflix would want to update guidance or give a pre-annoucement, as I’m sure they definitely knew about this for a while,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “But they probably didn’t want to do it because they were going to take a hit at that time or during earnings -- especially since subscriber numbers are the No. 1 thing analysts look at -- and in earnings you can spin it better than a stand-alone announcement.”Not Necessary?Another reason not to issue a warning: The company met most of Wall Street’s financial estimates, such as sales and profit. It was only the subscriber numbers that really came up short.“Revenue was very close to guidance and profits were actually above, so I’d guess they didn’t think it was necessary to pre-announce a weak sub number when other financial metrics were fine,” said Andy Hargreaves, an analyst at KeyBanc Capital Markets Inc.There’s also been a broader shift away from giving earnings warnings, said Huber Research Partners founder Craig Huber.“I have noticed companies in media and internet that I follow do not seem to pre-announce pending negative results with the same regularity as years ago,” he said.Netflix, based in Los Gatos, California, didn’t have an immediate comment.The streaming giant’s tight-lipped culture extends beyond earnings. Unlike traditional media companies, it’s very selective about the viewer information it provides. Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable.Third-Party ServicesThose kinds of data services failed to predict the latest shortfall, Wolfe Research analyst Marci Ryvicker said in a note.“For several days,” she said, “investors told us ‘such-and-such data service suggests domestic adds will come in line; while international might be somewhat soft.’ Wrong. I mean -- right in the sense that international was soft but totally wrong on the domestic subs part.”Netflix remains the dominant paid video streaming service, with its sights set on international expansion to counter slowing growth at home. But rising competition abroad -- such as a U.K. streaming venture announced Friday between ITV Plc and the BBC -- could challenge that growth as well.Netflix also delivers its earnings in an idiosyncratic way. Instead of doing a traditional Q&A conference call, the company releases an “earnings interview” on YouTube with a single analyst. It also issues its reports on its website, not through the paid services that many companies use to disseminate information.Though this week’s stock rout was especially severe, it’s common for Netflix’s earnings to spark a huge share move. The average change on the day after quarterly reports is almost 13%, according to data compiled by Bloomberg. Compare that with Apple Inc., where it’s 4.4%. Or Microsoft Corp., where it’s 4.1%.There’s another explanation for the huge swings in Netflix’s stock: overreaction. That was the message from Chief Executive Officer Reed Hastings this week. It’s easy to “overinterpret” subscriber figures, he said.“Sometimes we are forecast high, sometimes we forecast low,” he said. “We’re just executing forward and trying to do the best forecast we can.”(Closes shares in fourth paragraph.)\--With assistance from Morwenna Coniam.To contact the reporters on this story: Kamaron Leach in New York at firstname.lastname@example.org;Lucas Shaw in Los Angeles at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The U.S. edition of British reality show “Love Island” begins on Tuesday night, testing American appetites for daily, hour-long doses of sun-drenched tropical romance.Millions of British viewers sit down six nights a week to watch the show’s toned and tanned millennials flirt, bicker, confront challenges and couple up under constant video surveillance to win the audience’s affection and avoid being ejected from paradise.The latest U.K. season is the most-watched show ever on producer ITV Plc’s second channel and the franchise has had similar success in continental Europe and Australia, turning participants into celebrities.ITV is also bringing the format to Belgium, the Netherlands, Poland, Hungary and New Zealand. CBS Corp. will air Love Island USA, set on the Pacific island of Fiji, for five nights a week until Aug. 7.Success in the world’s biggest TV market is not assured. The birthplace of “Keeping Up with the Kardashians” is loaded with reality shows, from “Big Brother” that runs three nights a week on CBS to “America’s Got Talent” on Comcast Corp.’s NBC. One of “Love Island”’s closest U.S. equivalents -- “Bachelor in Paradise” from Walt Disney Co.’s ABC -- got enough viewers for two episodes a week last season.Love Island’s U.S. producers have smoothed the brasher edges of the U.K. version to secure a prime-time 8 p.m. slot, so the contestants’ swimwear may be less revealing and bleeps will obscure any foul language. Some quirks of the British format remain, including the ironic off-camera commentary that may be less familiar to U.S. reality-TV viewers.CBS is mobilizing its marketing firepower to make the show a success and boost its share with younger audiences."If social media is any indication, we are on the right path and look forward to having the audience find us and grow," David George, chief executive officer of ITV’s U.S. production arm, wrote in an email.ITV, Britain’s biggest free-to-air commercial broadcaster, has been squeezing the franchise for all it’s worth as the company’s advertising-funded channels come under attack from Netflix Inc.“Love Island” has tripled its international production hours since the beginning of 2018. ITV has even licensed a Love Island mobile game and sold opportunities to meet and greet the contestants.“A single show in a single market isn’t really going to move the needle that much,” Bloomberg Intelligence analyst Matthew Bloxham said. “But the wider success of Love Island as a franchise is more noticeable.”\--With assistance from Joe Mayes.To contact the reporter on this story: Greg Ritchie in London at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, ;Tom Contiliano at email@example.com, Thomas Pfeiffer, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jul.24 -- Carolyn McCall, chief executive officer of ITV Plc, Britain’s biggest free-to-air commercial broadcaster, talks about the company's financial results, outlook and strategy. She speaks on "Bloomberg Daybreak: Europe."