Nomura Securities Maintains a 'Buy' on Virgin Media (VMED); First look: Revs In-Line, OCF 2.8% Ahead, TiVo Strong
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Price: $51.00 --0%
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Virgin Media (NASDAQ: VMED) price target of $33.50.
Analyst, Henrik Nyblom, said, "Revenues in line, OCF 2.8% ahead, TiVo (Nasdaq: TIVO) strong. Q4 revenues of £1,023.7m (+2% y-o-y) came in broadly in line with consensus and our estimates. However, the mix was in our view slightly weaker as Cable revenues of £688.5m (+0.8% y-o-y) came in 1.4% below our expectations as a result of lower-than-expected ARPU. VMED added 1k basic TV subscribers, but importantly the pay-TV base grew by over 56k in the quarter, and demand for higher broadband remains strong, with more than 50% of new subs taking 30Mb or higher. VMED has £450m left of its £875m buyback program, which corresponds to about 10% of current market cap."
For an analyst ratings summary and ratings history on Virgin Media click here. For more ratings news on Virgin Media click here.
Shares of Virgin Media closed at $24.28 yesterday.
Analyst, Henrik Nyblom, said, "Revenues in line, OCF 2.8% ahead, TiVo (Nasdaq: TIVO) strong. Q4 revenues of £1,023.7m (+2% y-o-y) came in broadly in line with consensus and our estimates. However, the mix was in our view slightly weaker as Cable revenues of £688.5m (+0.8% y-o-y) came in 1.4% below our expectations as a result of lower-than-expected ARPU. VMED added 1k basic TV subscribers, but importantly the pay-TV base grew by over 56k in the quarter, and demand for higher broadband remains strong, with more than 50% of new subs taking 30Mb or higher. VMED has £450m left of its £875m buyback program, which corresponds to about 10% of current market cap."
For an analyst ratings summary and ratings history on Virgin Media click here. For more ratings news on Virgin Media click here.
Shares of Virgin Media closed at $24.28 yesterday.
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