CGI (GIB.A:TSE) and PPL (PPL:NYS) Downgraded

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Downgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been downgraded by at least one analyst in the last few days.

Why Do Companies Get Downgraded?

Companies can get downgraded for a number of reasons but primarily due to reduced future earnings potential due to loss of contracts, faultering product lines, increasing costs relative to revenue or financial risk.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
PPL PPL Corp 2 0 2 0 0 0 4.0000 4.5000 Outperform
GIB CGI Inc 5 3 3 2 0 0 3.8462 3.8571 Outperform
NUE Nucor Corp 2 0 2 1 0 0 3.6000 4.0000 Outperform
WRB WR Berkley Corp 1 0 2 1 1 0 2.8000 3.0000 Hold
ST Sensata Technologies Holding PLC 3 0 1 0 0 0 4.5000 4.7500 Outperform
KL Kirkland Lake Gold Ltd 4 1 7 0 0 0 3.7500 3.9167 Outperform
OBE Obsidian Energy Ltd 0 1 8 0 4 0 2.4615 3.0000 Underperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
GIB.A CGI Inc 5 3 3 2 0 0 3.8462 3.8571 Outperform
AP.UN Allied Properties Real Estate Investment Trust 4 3 2 0 0 0 4.2222 4.3750 Outperform
KMP.UN Killam Apartment Real Estate Investment Trust 5 2 3 0 0 0 4.2000 4.2500 Outperform
CEU CES Energy Solutions Corp 7 2 2 0 0 0 4.4545 4.5000 Outperform
CLR Clearwater Seafoods Inc 0 1 2 0 0 0 3.3333 3.7500 Hold
SOX Stuart Olson Inc 1 0 5 0 0 0 3.3333 3.5000 Hold
ESN Essential Energy Services Ltd 1 1 3 0 0 0 3.6000 3.8333 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
VIAB Viacom Inc 2 1 6 0 1 0 3.3000 3.3333 Hold
ETFC E*TRADE Financial Corp 2 0 1 0 0 0 4.3333 4.5000 Outperform
ZUMZ Zumiez Inc 0 0 2 0 0 0 3.0000 4.0000 Hold

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

GIB.A:TSE CGI

http://www.cgi.com
CGI has 74000 employees and is headquartered in Canada.
CGI Group Inc manages information technology services. The Company’s services include the management of IT and business functions, systems integration and consulting as well as the sale of software solutions.

PPL:NYS PPL

http://www.pplweb.com
PPL has 12444 employees and is headquartered in United States.
PPL Corp is an energy and utility holding company operating through its subsidiaries. The company generates and markets electricity in the northeastern and western U.S. and in the delivery of electricity in Pennsylvania and the U.K.

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The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Twenty-First Century Fox (FOXA:NAS) and BCE (BCE:TSE) Upgraded

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I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
BCE BCE Inc 4 5 6 0 0 0 3.8667 3.7333 Outperform
KR The Kroger Co 3 1 4 0 0 0 3.8750 3.7500 Outperform
TRGP Targa Resources Corp 4 1 0 0 0 0 4.8000 4.6000 Buy
BPL Buckeye Partners LP 2 0 2 0 0 0 4.0000 3.5000 Outperform
PHI PLDT Inc 0 0 1 0 0 0 3.0000 1.0000 Hold
GSH Guangshen Railway Co Ltd 0 1 1 0 0 0 3.5000 3.0000 Hold
AIT Applied Industrial Technologies Inc 1 1 1 0 0 0 4.0000 3.3333 Outperform
RES RPC Inc 2 1 1 0 0 0 4.2500 4.0000 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
BCE BCE Inc 4 5 6 0 0 0 3.8667 3.7333 Outperform
FCR First Capital Realty Inc 2 2 0 0 0 0 4.5000 4.2000 Outperform
SJ Stella-Jones Inc 3 4 1 0 0 0 4.2500 4.2222 Outperform
CWB Canadian Western Bank 2 0 7 0 0 0 3.4444 3.3333 Hold
CUF.UN Cominar Real Estate Investment Trust 4 1 4 0 0 0 4.0000 3.7778 Outperform
KMP.UN Killam Apartment Real Estate Investment Trust 4 2 2 0 0 0 4.2500 4.1429 Outperform
RECP Recipe Unlimited Corp 1 3 3 0 0 0 3.7143 3.5714 Outperform
HDI Hardwoods Distribution Inc 4 0 0 0 0 0 5.0000 4.8000 Buy
PTS Points International Ltd 1 1 0 0 0 0 4.5000 4.0000 Outperform
KOR Corvus Gold Inc 2 2 1 0 0 0 4.2000 4.0000 Outperform
PNE Pine Cliff Energy Ltd 1 1 7 0 1 0 3.1000 3.0909 Hold
TSX Venture Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
PNE.R Pine Cliff Energy Ltd 1 1 7 0 1 0 3.1000 3.0909 Hold
WELL WELL Health Technologies Corp 1 1 0 0 0 0 4.5000 4.0000 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
FOXA Twenty-First Century Fox Inc 2 0 5 0 1 0 3.2500 3.2222 Hold
FOX Twenty-First Century Fox Inc 2 0 5 0 1 0 3.2500 3.2222 Hold
VIAB Viacom Inc 2 1 5 0 1 0 3.3333 3.3000 Hold
FFIV F5 Networks Inc 1 1 3 0 0 0 3.6000 3.2000 Outperform
OKTA Okta Inc 3 0 1 0 0 0 4.5000 4.3333 Outperform
SSYS Stratasys Ltd 1 0 1 0 0 0 4.0000 2.0000 Outperform
ICHR Ichor Holdings Ltd 1 0 0 0 0 0 5.0000 3.0000 Buy
UBX Unity Biotechnology Inc 1 0 0 0 0 0 5.0000 0.0000 Buy

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

FOXA:NAS Twenty-First Century Fox

http://www.21cf.com
Twenty-First Century Fox has 22400 employees and is headquartered in United States.
Twenty-First Century Fox Inc is a diversified media and entertainment company. It operates in various business segments namely Cable Network Programming, Television, Filmed Entertainment, and Direct Broadcast Satellite Television.

BCE:TSE BCE

http://www.bce.ca
BCE has 51679 employees and is headquartered in Canada.
BCE Inc is a telecommunication company. It caters to residential, business and wholesale customers with solutions for all their communications needs.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Regeneron Pharmaceuticals (REGN:NAS) and Workday (WDAY:NAS) Upgraded

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I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
EFX Equifax Inc 8 4 1 0 0 0 4.5385 4.2500 Buy
BEP Brookfield Renewable Partners LP 2 1 9 0 1 0 3.2308 2.0000 Hold
PVTL Pivotal Software Inc 2 0 1 0 0 0 4.3333 3.6667 Outperform
HR Healthcare Realty Trust Inc 1 0 0 0 0 0 5.0000 4.0000 Buy
GOLF Acushnet Holdings Corp 1 0 1 0 0 0 4.0000 3.0000 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
BEP.UN Brookfield Renewable Partners LP 2 1 9 0 1 0 3.2308 2.0000 Hold
CCA Cogeco Communications Inc 5 2 2 0 0 0 4.3333 4.1111 Outperform
CEE Centamin PLC 3 0 2 0 0 0 4.2000 4.0000 Outperform
GTE Gran Tierra Energy Inc 4 3 4 0 0 0 4.0000 3.0000 Outperform
American Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
GTE Gran Tierra Energy Inc 4 3 4 0 0 0 4.0000 3.0000 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
REGN Regeneron Pharmaceuticals Inc 4 0 5 0 0 0 3.8889 3.7500 Outperform
WDAY Workday Inc 5 0 3 0 2 0 3.6000 3.5833 Outperform
VIAB Viacom Inc 3 0 7 0 1 0 3.3636 3.1818 Hold
VIA Viacom Inc 3 0 7 0 1 0 3.3636 3.1818 Hold
TSCO Tractor Supply Co 2 0 6 0 0 0 3.5000 3.4444 Hold
MRNA Moderna Inc 1 0 0 0 0 0 5.0000 0.0000 Buy
SFM Sprouts Farmers Market Inc 4 0 2 0 1 0 3.8571 3.7500 Outperform
SMTC Semtech Corp 3 1 0 0 0 0 4.7500 4.6667 Buy
SONO Sonos Inc 1 0 0 0 0 0 5.0000 0.0000 Buy
CLVS Clovis Oncology Inc 2 0 0 0 0 0 5.0000 4.3333 Buy
CTMX CytomX Therapeutics Inc 1 0 0 0 0 0 5.0000 4.0000 Buy

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

REGN:NAS Regeneron Pharmaceuticals

http://www.regeneron.com
Regeneron Pharmaceuticals has 6200 employees and is headquartered in United States.
Regeneron Pharmaceuticals Inc is an integrated biopharmaceutical company. It discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.

WDAY:NAS Workday

http://www.workday.com
Workday has 10200 employees and is headquartered in United States.
Workday Inc is a SaaS provider offering enterprise resource planning, or ERP, software for medium and large enterprises. The company’s product portfolio is built around human capital and financial management software.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Viacom (VIAB:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Viacom(VIAB:NAS)

Consumer Cyclical:Media-Diversified

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$32.06 (USD) 28/11/2018

Weighted Valuation
$34.57 (USD)

Overall Rating
Undervalued by 7.8%

Valuation Models Analyst Consensus: $34.57 (USD)
(in order of importance)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (VIAB:NAS USD)

Price 0.00
Range 0.00 – 0.00
52 week 0.00 – 0.00
Open 0.00
Vol / Avg. 0/0
Mkt cap 0
P/E 0.00
Div/yield 0.00/0.00
EPS 0.00
Shares 0
Beta 0.00

Company Description

Viacom is a global media company with several leading cable network properties, including Nickelodeon, MTV, BET, Comedy Central, VH1, Country Music Television, and Spike TV. Viacom has also built several online properties on the strength of these brands. Viacom’s Paramount Pictures produces original motion pictures and owns a library of 2,500 films, including the Godfather and Transformers series. Viacom was spun out of CBS at the end of 2005.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for VIAB:NAS

Using a discounted cash flow model we generated an intrinsic value of ($113.12) (USD) for VIAB:NAS

Comparables Model

Using similar companies and price based ratios we generated a valuation of $57.61 (USD) for VIAB:NAS. We also generated a valuation of $65.42 (USD) using other metrics and comparables.
The comparable companies were AMC Networks (AMCX:NAS), CBS (CBS:NYS), Discovery (DISCB:NAS), Live Nation Entertainment (LYV:NYS) and World Wrestling Enter (WWE:NYS).

Company VIAB:NAS End Date Value
Earnings/Share $4.27 (USD)
Book Value/Share $17.39 (USD)
Sales/Share $31.72 (USD)
Cash Flow/Share $5.00 (USD)
EBITDA/Share $19.34 (USD)
Price Based on Comps Adjustment Factor (%)
$50.14 (USD) -68.7
$124.04 (USD) -15.0
$83.80 (USD) -37.8
$82.08 (USD) -58.7
$0.00 (USD) -64.4
VIAB:NAS Ratios Used Average Values AMCX:NAS CBS:NYS DISCB:NAS LYV:NYS WWE:NYS
6.51 PE Ratio 41.44 7.29 16.20 0.00 0.00 100.82
1.84 PB Ratio 12.33 19.96 9.91 2.07 9.42 20.28
1.01 PS Ratio 2.64 1.26 1.57 2.23 1.00 7.15
6.40 PCF Ratio 21.42 7.26 22.66 10.15 31.92 35.10
2.93 EV to EBITDA 17.53 3.26 11.59 12.01 19.37 41.41

Multiples

Using a multiples approach we generated a valuation of  $51.08 (USD) for VIAB:NAS

Company VIAB:NAS End Date Value
Earnings/Share $4.27 (USD)
Book Value/Share $17.39 (USD)
Sales/Share $31.72 (USD)
Cash Flow/Share $5.00 (USD)
EBITDA/Share $19.34 (USD)
Price Based on Comps Adjustment Factor
$39.59 (USD) 0
$65.43 (USD) 0
$37.41 (USD) 0
$44.24 (USD) 0
$68.73 (USD) 0
Ratios Ratio Average
PE Ratio 9.27
PB Ratio 3.76
PS Ratio 1.18
PCF Ratio 8.85
EV to EBITDA 3.55

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  VIAB:NAS for the last 10 years was  3.50

We ran the Adjusted Book Value for  VIAB:NAS and generated a book value of  $18.38 (USD)
By multiplying these we get an adjusted valuation of  $64.26 (USD)

Analyst Data

In the Stockcalc database there are 7 analysts that provide a valuation for VIAB:NAS. The 7 analysts have a concensus valuation for VIAB:NAS for 2019 of $34.57 (USD).

VIAB:NAS Viacom

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 8 1 3.1818 Hold 2018-11-27

Current Price: 32.06 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 4.31 4.39 4.68
# EPS Analysts 11 9 5
Mean Revenue 13,259.80 13,543.10 13,909.80
# Revenue Analysts 8 7 5
Mean Target Price 34.57
Mean Cash Flow 4.81 5.04 5.07
Mean EBITDA 3,071.70 3,154.90 3,248.10
Mean Net Income 1,897.00 1,779.10 1,893.80
Mean Debt Outstanding 7,202.90 5,650.10 3,912.00
Mean Tax Rate 24.00 24.00 24.00
Mean Growth Rate 5.16
Mean Capital Expenditure 196.60 199.70 212.40

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Viacom (VIA:NAS) Fundamental Valuation Report

Fundamental Valuation Report

Viacom(VIA:NAS)

Consumer Cyclical:Media-Diversified

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$34.92 (USD) 27/11/2018

Weighted Valuation
$34.43 (USD)

Overall Rating
Fairly valued to slightly Overvalued by 1.4%

Valuation Models Analyst Consensus: $34.43 (USD)
(in order of importance)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (VIA:NAS USD)

Price 34.92
Range 34.62 – 35.26
52 week 31.20 – 40.05
Open 34.80
Vol / Avg. 17440/25728
Mkt cap 12.73B
P/E 8.33
Div/yield 0.80/0.02
EPS 4.27
Shares 402.87M
Beta 1.20

Company Description

Viacom is a global media company with several leading cable network properties, including Nickelodeon, MTV, BET, Comedy Central, VH1, Country Music Television, and Spike TV. Viacom has also built several online properties on the strength of these brands. Viacom’s Paramount Pictures produces original motion pictures and owns a library of 2,500 films, including the Godfather and Transformers series. Viacom was spun out of CBS at the end of 2005.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for VIA:NAS

Using a discounted cash flow model we generated an intrinsic value of ($116.42) (USD) for VIA:NAS

Comparables Model

Using similar companies and price based ratios we generated a valuation of $47.75 (USD) for VIA:NAS. We also generated a valuation of $67.03 (USD) using other metrics and comparables.
The comparable companies were AMC Networks (AMCX:NAS), CBS (CBS:NYS), Discovery (DISCB:NAS), Live Nation Entertainment (LYV:NYS) and World Wrestling Enter (WWE:NYS).

Company VIA:NAS End Date Value
Earnings/Share $4.27 (USD)
Book Value/Share $17.39 (USD)
Sales/Share $31.72 (USD)
Cash Flow/Share $5.00 (USD)
EBITDA/Share $19.34 (USD)
Price Based on Comps Adjustment Factor (%)
$50.14 (USD) -66.5
$0.00 (USD) -10.2
$83.80 (USD) -33.7
$82.08 (USD) -55.6
$0.00 (USD) -64.2
VIA:NAS Ratios Used Average Values AMCX:NAS CBS:NYS DISCB:NAS LYV:NYS WWE:NYS
7.20 PE Ratio 41.44 7.29 16.20 0.00 0.00 100.82
2.03 PB Ratio 12.33 19.96 9.91 2.07 9.42 20.28
1.12 PS Ratio 2.64 1.26 1.57 2.23 1.00 7.15
7.07 PCF Ratio 21.42 7.26 22.66 10.15 31.92 35.10
2.93 EV to EBITDA 17.53 3.26 11.59 12.01 19.37 41.41

Multiples

Using a multiples approach we generated a valuation of  $55.88 (USD) for VIA:NAS

Company VIA:NAS End Date Value
Earnings/Share $4.27 (USD)
Book Value/Share $17.39 (USD)
Sales/Share $31.72 (USD)
Cash Flow/Share $5.00 (USD)
EBITDA/Share $19.34 (USD)
Price Based on Comps Adjustment Factor
$44.03 (USD) 0
$74.20 (USD) 0
$41.18 (USD) 0
$49.24 (USD) 0
$70.75 (USD) 0
Ratios Ratio Average
PE Ratio 10.31
PB Ratio 4.27
PS Ratio 1.30
PCF Ratio 9.85
EV to EBITDA 3.66

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  VIA:NAS for the last 10 years was  4.05

We ran the Adjusted Book Value for  VIA:NAS and generated a book value of  $18.38 (USD)
By multiplying these we get an adjusted valuation of  $74.47 (USD)

Analyst Data

In the Stockcalc database there are 7 analysts that provide a valuation for VIA:NAS. The 7 analysts have a concensus valuation for VIA:NAS for 2019 of $34.43 (USD).

VIA:NAS Viacom

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 8 1 3.1818 Hold 2018-11-26

Current Price: 34.92 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 4.32 4.45 4.68
# EPS Analysts 11 8 5
Mean Revenue 13,259.80 13,543.10 13,909.80
# Revenue Analysts 8 7 5
Mean Target Price 34.43
Mean Cash Flow 4.81 5.04 5.07
Mean EBITDA 3,071.70 3,154.90 3,248.10
Mean Net Income 1,897.00 1,779.10 1,893.80
Mean Debt Outstanding 7,202.90 5,650.10 3,912.00
Mean Tax Rate 24.00 24.00 24.00
Mean Growth Rate 5.16
Mean Capital Expenditure 196.60 199.70 212.40

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Dolby Laboratories (DLB:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Dolby Laboratories(DLB:NYS)

Consumer Cyclical:Media-Diversified

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$70.25 (USD) 16/11/2018

Weighted Valuation
$71.72 (USD)

Overall Rating
Fairly valued to slightly Undervalued by 2.1%

Valuation Models Analyst Consensus: $85.00 (USD)
(in order of importance) Discounted Cash Flow: $59.04 (USD)
Comparables: $57.25 (USD)
Valuation Methods This company is:
Cash Flow: Overvalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Overvalued on an Asset Valuation

Company Overview (DLB:NYS USD)

Price 70.25
Range 69.03 – 70.52
52 week 59.82 – 71.83
Open 69.57
Vol / Avg. 453276/402897
Mkt cap 7.25B
P/E 61.62
Div/yield 0.64/0.01
EPS 1.14
Shares 103.26M
Beta 0.73

Company Description

Dolby Laboratories Inc develops audio and surround sound for cinema, broadcast, home audio systems, in-car entertainment systems, DVD players, games, televisions, and personal computers. The company generates three fourths of its revenue from licensing its technology to consumer electronics manufacturers around the world. The rest of revenue comes from equipment sales to professional producers and audio engineering services.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for DLB:NYS

Using a discounted cash flow model we generated an intrinsic value of $59.04 (USD) for DLB:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

DLB:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $59.04 1% 5% 1% 5%
WACC (or Ke) 7.33 $74.08 $49.00
Terminal Growth Rate 2.30 $49.91 $72.70
Tax Rate 0.23 $62.94 $55.14
Cash Flow 515,285,100 $55.53 $62.55
Capital Expenditures -101,216,400 $58.39 $59.69
Long Term Debt 0 $59.04 $59.04

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $57.25 (USD) for DLB:NYS. We also generated a valuation of $93.86 (USD) using other metrics and comparables.
The comparable companies were Discovery (DISCA:NAS), Live Nation Entertainment (LYV:NYS), MSG Networks (MSGN:NYS), Viacom (VIAB:NAS) and World Wrestling Enter (WWE:NYS).

Company DLB:NYS End Date Value
Earnings/Share $1.14 (USD)
Book Value/Share $21.19 (USD)
Sales/Share $10.89 (USD)
Cash Flow/Share $2.98 (USD)
EBITDA/Share $3.69 (USD)
Price Based on Comps Adjustment Factor (%)
$43.33 (USD) -44.1
$178.40 (USD) -36.7
$31.01 (USD) 89.9
$55.44 (USD) -44.9
$62.39 (USD) -4.4
DLB:NYS Ratios Used Average Values DISCA:NAS LYV:NYS MSGN:NYS VIAB:NAS WWE:NYS
77.31 PE Ratio 38.01 0.00 0.00 6.71 6.51 100.82
3.25 PB Ratio 8.42 2.14 9.42 0.00 1.84 20.28
6.32 PS Ratio 2.85 2.30 1.00 2.78 1.01 7.15
23.11 PCF Ratio 18.62 10.47 31.92 9.20 6.40 35.10
16.06 EV to EBITDA 16.92 12.01 19.37 8.91 2.93 41.41

Multiples

Using a multiples approach we generated a valuation of  $44.51 (USD) for DLB:NYS

Company DLB:NYS End Date Value
Earnings/Share $1.14 (USD)
Book Value/Share $21.19 (USD)
Sales/Share $10.89 (USD)
Cash Flow/Share $2.98 (USD)
EBITDA/Share $3.69 (USD)
Price Based on Comps Adjustment Factor
$27.61 (USD) 0
$53.60 (USD) 0
$52.40 (USD) 0
$42.91 (USD) 0
$46.05 (USD) 0
Ratios Ratio Average
PE Ratio 24.22
PB Ratio 2.53
PS Ratio 4.81
PCF Ratio 14.41
EV to EBITDA 12.49

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  DLB:NYS for the last 10 years was  2.57

We ran the Adjusted Book Value for  DLB:NYS and generated a book value of  $21.27 (USD)
By multiplying these we get an adjusted valuation of  $54.57 (USD)

Analyst Data

In the Stockcalc database there are 1 analysts that provide a valuation for DLB:NYS. The 1 analysts have a concensus valuation for DLB:NYS for 2019 of $85.00 (USD).

DLB:NYS Dolby Laboratories

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
1 0 0 5.0000 Buy 2018-11-15

Current Price: 70.25 USD

Analyst Consensus
USD Millions 2019 2020 2021
Mean EPS 3.00 3.44 3.35
# EPS Analysts 1 1 1
Mean Revenue 1,264.90 1,353.80 1,455.90
# Revenue Analysts 1 1 1
Mean Target Price 85.00
Mean Cash Flow
Mean EBITDA 385.70 445.20 503.70
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate 20.00 20.00 20.00
Mean Growth Rate 16.00
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


The Estee Lauder Cos (EL:NYS) and Canadian Imperial Bank (CM:NYS) Upgraded

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
EL The Estee Lauder Companies Inc 6 0 4 0 0 0 4.2000 4.1111 Outperform
CM Canadian Imperial Bank of Commerce 4 3 3 0 0 0 4.1000 4.0000 Outperform
BT BT Group PLC 3 0 2 0 0 0 4.2000 4.0000 Outperform
HEI Heico Corp 2 0 1 0 0 0 4.3333 4.0000 Outperform
WPX WPX Energy Inc 4 0 0 1 0 0 4.4000 4.0000 Outperform
NNN National Retail Properties Inc 1 0 2 0 0 0 3.6667 3.0000 Outperform
SRG Seritage Growth Properties 0 0 1 0 1 0 2.0000 1.0000 Underperform
SMAR Smartsheet Inc 1 0 0 0 0 0 5.0000 0.0000 Buy
RFP Resolute Forest Products Inc 0 0 5 0 0 0 3.0000 2.6000 Hold
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
VIA Viacom Inc 4 1 4 0 2 0 3.4545 3.3636 Hold
GDS GDS Holdings Ltd 1 0 1 0 0 0 4.0000 3.0000 Outperform
PEGI Pattern Energy Group Inc 4 3 1 0 0 0 4.3750 4.2500 Outperform

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

EL:NYS The Estee Lauder Cos

http://www.elcompanies.com
The Estee Lauder Cos has 46000 employees and is headquartered in United States.
The Estee Lauder Companies Inc is a beauty products manufacturer providing Skin care, Makeup, Fragrance and Hair care services.

CM:NYS Canadian Imperial Bank

http://www.cibc.com
Canadian Imperial Bank has 44646 employees and is headquartered in Canada.
Canadian Imperial Bank of Commerce is a Canadian-based financial institution. The company serves its clients through retail and business banking, wealth management and wholesale banking.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Discovery Communications (DISCK:NAS) Fundamental Valuation Report


This Report was generated using the tools available on StockCalc.com. Patchell Brook Equity Analytics Inc. emphasizes that the user assumes all risks associated with the use of this report or the Stockcalc website including, but not limited to, all terms and conditions mentioned in the legal disclaimer.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.

Discovery Communications $22.86 (USD) Close Price as of 06/03/2018

Based on the analysis conducted in this report, Discovery Communications, (DISCK:NAS) is found to be  Undervalued.

Company Discovery Communications
Symbol:Exchange DISCK:NAS
Industry Consumer Cyclical:Media-Diversified
Close Price/Date $22.86 (USD) 06/03/2018
Weighted Average Valuation $25.12 (USD)
Summary DISCK:NAS is found to be  Undervalued by 9.9% using the 3 valuation models shown below.
Valuation Models Used Analyst Consensus: $26.17 (USD)
(in order of importance) Adjusted Book Value: $23.82 (USD)
Multiples: $24.58 (USD)
Valuation Methods Analysis This company is:
Cash Flow Basis: Overvalued on a Cash Flow Valuation basis
Comparable Company Basis: Undervalued on a Comparable Valuation basis
Asset Basis: Fairly valued on an Asset Valuation basis

Valuation Details

Discovery Communications Valuations

Summary chart

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for DISCK:NAS

Using a discounted cash flow model generates a negative intrinsic value due to one of 1) zero or negative projected cash flows 2) excessive capital expenditures or 3) excessive debt to calculated equity value for DISCK:NAS. We have not shown the calculated value here for that reason.

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $30.76 (USD) for DISCK:NAS. We also generated a valuation of $43.57 (USD) using other metrics and comparables.
The comparable companies were CBS (CBS.A:NYS), Live Nation Entertainment (LYV:NYS), Regal Entertainment (RGC:NYS), Viacom (VIA:NAS) and World Wrestling Enter (WWE:NYS)

Company DISCK:NAS End Date Value
Cash/Share $12.69 (USD)
Book Value/Share $12.07 (USD)
MarketCap 8,993,620,304
1 Year Return -0.159
NetPPE 597,000,000
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 0
$98.29 (USD) 0
$17.76 (USD) 0
$33.44 (USD) 0
$24.77 (USD) 0
Ratios Used Average Values CBS.A:NYS LYV:NYS RGC:NYS VIA:NAS WWE:NYS
Cash / Share 3.22 0.69 8.73 1.46 3.47 1.76
Book Value / Share 4.88 7.40 5.95 -5.35 13.20 3.18
Market Cap 10,229,001,794 24,486,748,616 8,022,435,960 3,127,586,795 13,593,331,448 1,914,906,151
1 Year Return 0.23 -0.22 0.56 0.06 -0.11 0.87
Net PPE 957,692,200 1,280,000,000 885,936,000 1,513,200,000 978,000,000 131,325,000

Multiples

Using a multiples approach we generated a valuation of  $24.58 (USD) for DISCK:NAS

Company DISCK:NAS End Date Value
Earnings/Share ($0.59) (USD)
Book Value/Share $12.07 (USD)
Sales/Share $11.93 (USD)
Cash Flow/Share $2.83 (USD)
EBITDA/Share $1.16 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$23.87 (USD) 0
$30.20 (USD) 0
$34.99 (USD) 0
$9.28 (USD) 0
Ratios Ratio Average
PE Ratio 15.10
PB Ratio 1.98
PS Ratio 2.53
PCF Ratio 12.37
EV to EBITDA 8.00

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  DISCK:NAS for the last 10 years was  1.96

We ran the Adjusted Book Value for  DISCK:NAS and generated a book value of  $12.13 (USD)
By multiplying these we get an adjusted valuation of  $23.82 (USD)

Analyst Data

In the Stockcalc database there are 6 analysts that provide a valuation for DISCK:NAS. The 6 analysts have a concensus valuation for DISCK:NAS for 2018 of $26.17 (USD).

DISCK:NAS Discovery Communications

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 4 1 3.3750 Hold 2018-3-5

Current Price: not available

Analyst Consensus
USD Millions 2018 2019 2020
Mean EPS 2.27 2.49 2.50
# EPS Analysts 7 4 2
Mean Revenue 7,498.60 7,712.50 8,428.60
# Revenue Analysts 5 3 2
Mean Target Price 26.17
Mean Cash Flow 2.85 3.36 3.43
Mean EBITDA 2,591.80 2,766.80 2,667.40
Mean Net Income 1,269.50 1,520.80 1,534.20
Mean Debt Outstanding -5,814.00 -4,590.90 -3,834.40
Mean Tax Rate 26.33 25.00 25.00
Mean Growth Rate 7.10
Mean Capital Expenditure 163.30 195.80 217.30

Company Overview (DISCK:NAS USD)

Price 22.86
Range 22.70 – 23.30
52 week 15.27 – 28.90
Open 23.11
Vol / Avg. 16.38M/1.56M
Mkt cap 8.69B
P/E 0.00
Div/yield 0.00/0.00
EPS -0.59
Shares 380M
Beta 1.21
Summary chart

Detailed Company Description

Discovery Communications Inc is a media and entertainment company. It provides programming across multiple distribution platforms. The company also provides educational products and services to schools and operates digital media services.

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.
The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).
The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.
We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.
Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.
With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.
If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on www.stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.

Discovery (DISCB:NAS) Fundamental Valuation Report


This Report was generated using the tools available on StockCalc.com. Patchell Brook Equity Analytics Inc. emphasizes that the user assumes all risks associated with the use of this report or the Stockcalc website including, but not limited to, all terms and conditions mentioned in the legal disclaimer.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.

Discovery $26.00 (USD) Close Price as of 06/03/2018

Based on the analysis conducted in this report, Discovery, (DISCB:NAS) is found to be  Fairly valued to slightly Undervalued.

Company Discovery
Symbol:Exchange DISCB:NAS
Industry Consumer Cyclical:Media-Diversified
Close Price/Date $26.00 (USD) 06/03/2018
Weighted Average Valuation $26.08 (USD)
Summary DISCB:NAS is found to be  Fairly valued to slightly Undervalued by 0.3% using the 3 valuation models shown below.
Valuation Models Used Analyst Consensus: $26.17 (USD)
(in order of importance) Adjusted Book Value: $26.02 (USD)
Multiples: $25.91 (USD)
Valuation Methods Analysis This company is:
Cash Flow Basis: Overvalued on a Cash Flow Valuation basis
Comparable Company Basis: Undervalued on a Comparable Valuation basis
Asset Basis: Fairly valued on an Asset Valuation basis

Valuation Details

Discovery Valuations

Summary chart

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for DISCB:NAS

Using a discounted cash flow model generates a negative intrinsic value due to one of 1) zero or negative projected cash flows 2) excessive capital expenditures or 3) excessive debt to calculated equity value for DISCB:NAS. We have not shown the calculated value here for that reason.

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $45.84 (USD) for DISCB:NAS. We also generated a valuation of $43.68 (USD) using other metrics and comparables.
The comparable companies were CBS (CBS.A:NYS), Live Nation Entertainment (LYV:NYS), Regal Entertainment (RGC:NYS), Viacom (VIA:NAS) and World Wrestling Enter (WWE:NYS)

Company DISCB:NAS End Date Value
Cash/Share $12.69 (USD)
Book Value/Share $12.07 (USD)
MarketCap 8,993,620,304
1 Year Return -0.056
NetPPE 597,000,000
Price Based on Comps Adjustment Factor (%)
$0.00 (USD) 0
$98.29 (USD) 0
$17.75 (USD) 0
$33.89 (USD) 0
$24.77 (USD) 0
Ratios Used Average Values CBS.A:NYS LYV:NYS RGC:NYS VIA:NAS WWE:NYS
Cash / Share 3.22 0.69 8.73 1.46 3.47 1.76
Book Value / Share 4.88 7.39 5.95 -5.35 13.20 3.18
Market Cap 10,224,634,907 24,472,259,976 8,031,413,192 3,126,507,178 13,576,698,905 1,916,295,283
1 Year Return 0.23 -0.22 0.56 0.05 -0.13 0.87
Net PPE 957,692,200 1,280,000,000 885,936,000 1,513,200,000 978,000,000 131,325,000

Multiples

Using a multiples approach we generated a valuation of  $25.91 (USD) for DISCB:NAS

Company DISCB:NAS End Date Value
Earnings/Share ($0.59) (USD)
Book Value/Share $12.07 (USD)
Sales/Share $11.93 (USD)
Cash Flow/Share $2.83 (USD)
EBITDA/Share $1.16 (USD)
Price Based on Comps Adjustment Factor
$0.00 (USD) 0
$25.39 (USD) 0
$31.87 (USD) 0
$36.83 (USD) 0
$9.56 (USD) 0
Ratios Ratio Average
PE Ratio 15.95
PB Ratio 2.10
PS Ratio 2.67
PCF Ratio 13.02
EV to EBITDA 8.24

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  DISCB:NAS for the last 10 years was  2.14

We ran the Adjusted Book Value for  DISCB:NAS and generated a book value of  $12.13 (USD)
By multiplying these we get an adjusted valuation of  $26.02 (USD)

Analyst Data

In the Stockcalc database there are 6 analysts that provide a valuation for DISCB:NAS. The 6 analysts have a concensus valuation for DISCB:NAS for 2018 of $26.17 (USD).

DISCB:NAS Discovery

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 4 1 3.3750 Hold 2018-3-6

Current Price: not available

Analyst Consensus
USD Millions 2018 2019 2020
Mean EPS 2.29 2.55 2.50
# EPS Analysts 7 4 3
Mean Revenue 7,553.20 7,811.90 8,317.10
# Revenue Analysts 5 3 3
Mean Target Price 26.17
Mean Cash Flow 2.85 3.36 3.43
Mean EBITDA 2,591.80 2,766.80 2,667.40
Mean Net Income 1,250.80 1,474.80 1,500.60
Mean Debt Outstanding -5,814.00 -4,590.90 -3,834.40
Mean Tax Rate 24.00 25.00 25.00
Mean Growth Rate 13.55
Mean Capital Expenditure 163.30 195.80 217.30

Company Overview (DISCB:NAS USD)

Price 26.00
Range 26.00 – 28.00
52 week 20.00 – 34.00
Open 28.00
Vol / Avg. 528/1584
Mkt cap 9.88B
P/E 0.00
Div/yield 0.00/0.00
EPS -0.59
Shares 380M
Beta 1.18