Canaccord cuts PT, earnings estimates on Australia's Southern Cross Media

Southern Cross Media

17/08/2023 21:57

** Analysts at Canaccord Genuity cut price target on
Australia's Southern Cross Media  SXL.AX  to A$0.85/share from
A$1.15/share
    ** SXL reports FY23 headline revenue of A$504 mln ($322.61
mln), slightly missing Canaccord estimates
    ** Co also reports a 12% fall in earnings before interest
taxes depreciation and amortization (EBITDA) for FY23, missing
estimates 
    ** Brokerage downgrades FY24 and FY25 EBITDA estimates by 9%
each
    ** Further cuts EPS estimates by 17% and 20% for FY24 and
FY25 
    ** Two of six analysts rate the stock "buy", three "hold"
and one "sell"; their median PT is A$1.13 – Refinitiv data
    ** Stock had fallen 23.9% this year, as of last close


($1 = 1.5623 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))