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What should investors do with Sun TV Network post Q3 result: Buy, sell or hold?

The share touched its 52-week high Rs 570.70 and 52-week low Rs 259.80 on 08 February, 2021 and 03 April, 2020, respectively.

February 09, 2021 / 10:20 AM IST
 
 
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Sun TV Network share price shed nearly 9 percent in early trade on February 9, a day after the company announced its December quarter numbers

The company posted a 15.88 percent jump in its December quarter net profit at Rs 445.54 crore against Rs 384.50 crore in Q3 FY20.

Its revenue stood at Rs 994.14 crore in December 2020, up 17.26 percent from Rs 847.81 crore in Q3 FY20.

The company board has declared an interim dividend of Rs 5 per equity share of Rs 5 each (i.e. 100 percent) for the financial year 2020-21.

Here is what brokerages have to say about the stock and the company after Q3:

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CLSA | Rating: Buy | Target: Raised to Rs 645 per share

There was a lag in advertisement growth but IPL revenue surprised. The company is ramping up its movies business.

CLSA raise FY21-23 profit estimate by 4-8 percent. Sun NXT ramp-up bodes well for the long-term. The stock trading is at a compelling valuation, it said

Macquarie | Rating: Outperform | Target: Rs 612 per share

The weak local advertisement market impacted company’s Q3 advertisement revenues.

The current valuations are still undemanding. It has an attractive 5 percent dividend yield & is sitting on Rs 3,000 crore net cash, reported CNBC-TV18.

UBS | Rating: Neutral | Target: Rs 505 per share

The advertisement recovery was weaker than expected, while management expects advertisement revenue in FY22 to reach FY20 levels.

Sun NXT to aid subscription revenue going forward, reported CNBC-TV18.

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At 09:45 hrs, Sun TV Network was quoting at Rs 520.30, down Rs 31.15, or 5.65 percent on the BSE.

The share touched its 52-week high Rs 570.70 and 52-week low Rs 259.80 on 08 February, 2021 and 03 April, 2020, respectively.

Currently, it is trading 8.83 percent below its 52-week high and 100.27 percent above its 52-week low.
Moneycontrol News
first published: Feb 9, 2021 10:20 am

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