28 Oct 2015 10:25
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Trinity Mirror PLC Share News (TNI)
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Don't have an account? Click here to register.Numis reiterates 'buy' on Trinity Mirror after trading update
Fri, 16th Dec 2016 10:43
(ShareCast News) - Numis reiterated a 'buy' rating and target price of 210p on Trinity Mirror after the British newspaper publisher reported an "encouraging" trading update on Friday.While Trinity said it sees group revenue falling by more than 8% like-for-like in the fourth quarter, it said its performance for the full year will be "marginally ahead" of expectations. Numis also noted that the decline in revenue marks an improvement on the third quarter's 9% fall.The company said publishing revenue is forecast to dip 8% in the last three months of the fiscal year as a 10% slide in print offsets an 8% increase in digital. Print advertising revenue is expected to decrease by 17% while circulation revenue is estimated to dip 5%.Numis raised its lower end forecasts for full year pre-tax profit and earnings per share by 5% to £131.0m and 36.8p, respectively. The broker said an expected net debt of £35m by year end was better than its estimate for £87m, aided by disposals."We retain our Buy recommendation and view Trinity Mirror shares as materially undervalued compared with our price target of 210p," Numis said.
More News
28 Oct 2015 10:14
BUZZ-Trinity Mirror: seals Local World deal
** Newspaper publisher's shares up 8 pct after saying it would buy rival Local World for 220 mln stg ** Trinity Mirror, which already owns a 20 pct stake in Local World, revealed in Sept that it was in talks to buy the firm ** TNI is attempting to build scale to help counteract the
Read more9 Oct 2015 16:28
Friday broker round-up
(ShareCast News) - Ferrexpo: UBS upgrades to neutral, cuts target price to 36.00p. Carillion: Investec Securities downgrades to hold. Target price: 300.00p. Weir Group: RBC Capital Markets downgrades to underperform, bumps down target price to 50.00p. United Utilities Group: Credit Suisse upgrades
Read more5 Oct 2015 08:08
Trinity Mirror on track to meet full-year expectations
(ShareCast News) - Trinity Mirror said it's on track to meet its performance expectations for the year, as it highlighted some improvement in third-quarter revenue trends. The company said revenue fell 9% in the third quarter, compared with a 13% drop in the second. Underlying revenue fell by 7% com
Read more24 Sep 2015 15:15
14 Sep 2015 16:27
London close: Stocks decline on interest rate confusion ahead of FOMC decision
(ShareCast News) - The UK equity market declined on Monday after earlier gains as investors showed nervousness ahead the Federal Reserve's interest rate decision. The Federal Open Market Committee on Thursday announces whether it will raise rates for the first time in almost a decade following a two
Read more14 Sep 2015 11:50
London midday: Stocks edge higher as China unveils state-firm reforms
(ShareCast News) - London stocks edged higher on Monday after China revealed details of state-business reforms as worse-than-expected data fuelled concerns about the nation's slowdown. China on Sunday outlined plans to restructure its state-owned enterprises, including partial privatisation. The pro
Read more14 Sep 2015 10:34
UPDATE 2-UK's Trinity Mirror in talks to buy rival Local World
(Adds Local World no comment, analyst, background and detail; also updates shares) Sept 14 (Reuters) - Britain's Trinity Mirror Plc, publisher of the Daily Mirror and Sunday Mirror newspapers, is in talks to buy rival Local World Holdings Ltd as it attempts to build scale to help counteract
Read more