The stock of Grupo Televisa, S.A.B. (NYSE:TV) is now priced at $6.3 and the shares are 0.08 points up or 1.29% higher compared to its previous closing price of $6.22. The stock had 1.47 million contracts set over the past session. TV shares’ daily volume is compared to its average trading volume at 1.712 million shares. However, it has a float of 559 million and although its performance was -1.41% over the week, it’s one to watch. Analysts have given the TV stock a yearly average price target of $8.28 per share. It means the stock’s upside potential is 31.43% with the TV share price recently placing at $6.04 to $6.36. However, some brokerage firms have priced the stock below the average, including one that has called $5.5.
The shorts are running away from the Grupo Televisa, S.A.B. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TV shares have declined. Short interest in the stock represents just 0.53% of its float, but the volume has dropped by 0.
In the last trading session, Grupo Televisa, S.A.B. (NYSE:TV) dropped by -$0.09 over the week and gained $0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.6. The stock recorded its established 52-week high on 01/22/20.
Since 04/03/20, the stock has traded to a low of $4.65 at 35.48%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.19. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Grupo Televisa, S.A.B.’s two-week RSI is 51.43. This suggests that the stock is neutral at the moment and that TV shares’ price movement remains stable. The stochastic readings are equally revealing at 24.43% meaning the TV share price is currently in overbought territory.
The technical chart shows that the TV stock will likely settle at between $6.43 and $6.55 per share. However, if the stock dips below $6.11, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.91.
Currently, the stock is trading in the green of MACD, with a reading of 0.03. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Barclays cut their recommendation for TV from Equal Weight to Underweight in November 11 review. Citigroup analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on February 01. Goldman analysts see the stock as Neutral when the analysts initiated the share price coverage on April 03, placing it at $18.
The average rating for the TV equity is 2.64 and is currently gathering a bullish momentum. Of 10 analysts tracking Grupo Televisa, S.A.B. polled by Reuters, 4 rated TV as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the TV stock price is 53.85X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 94. Grupo Televisa, S.A.B. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 1.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Grupo Televisa, S.A.B. (NYSE:TV) will decrease by about -95.18%, which will see them reach $1080 million. The company’s full-year revenues are, however, expected to diminish by about -16.51%, down from $5270 million to $4400 million. TV’s expected adjusted earnings should drop almost -71.43% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -239.02% to record -$0.57/share.