Entravision Communications ( EVC Quick Quote EVC - Free Report) recently announced that it will provide comprehensive Spanish language radio coverage of the NFL during the 2023-24 season for the ninth consecutive year in a row. Entravision will air 51 key NFL games in Spanish through its owned-and-operated radio stations across the United States as well as in important markets via affiliations, including the Latino Media Network. EVC's coverage will commence with the NFL Kick-off game on Sep 7, showcasing a contest between the Detroit Lions and defending Super Bowl champions, the Kansas City Chiefs. This radio coverage will persist throughout the extended 18-week NFL season, encompassing Sunday Night Football and Monday Night Football matches. The company’s game day broadcasts consist of a pre-game segment, the actual live game coverage and post-game analysis. Furthermore, Sunday broadcasts start with a unique 30-minute analysis show named Pase Completo, preceding the pre-game segment. This show features experienced multi-sport announcer Ricardo Celis and game analyst Tony Nuñez. Notably, the Pase Completo program will also be available for live streaming on Facebook Live. Entravision’s Recent Acquisition to Aid Top-Line Growth
Entravision has acquired around eight companies and invested in two companies in the past. The company recently acquired BCNMonetize, a leading global mobile app marketing solutions. This acquisition is expected to aid top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for EVC’s third-quarter 2023 earnings is pegged at a profit of 9 cents per share, indicating a year-over-year decline of 18.18%. The Zacks Consensus Estimate for revenues is pegged at $271.5 million, indicating year-over-year growth of 12.65%. The acquisition expands the company’s geographic presence in Spain and Turkey. This move involves a team of international mobile marketing experts. The acquisition enhances Entravision's ability to execute sales strategies and allows it to continue benefiting from the flourishing global app industry. Per EVC, worldwide spending by mobile app users will rise from $469 billion in 2022 to $613 billion in 2025. This acquisition is expected to reinforce Entravision's position in emerging markets, aligning with its goal of becoming a major player in the realm of digital advertising solutions on a global scale. The products offered by BCNMonetize, which align well with the company's objectives, will be seamlessly integrated into its current mobile growth solutions division. This division holds significant importance within EVC's Digital segment. Importantly, all the employees currently working at BCNMonetize will continue to be as part of the business following the integration. Shares of EVC have decreased 17.3% year to date against the Zacks Consumer Discretionary sector’s rise of 11.4% in the same period due to high spending in acquisitions, which is expected to diversify revenue streams as well as complement existing revenues. It is expected to aid the company’s top-line growth in the long term. Zacks Rank & Key Picks
Currently, Entravision Communications carries a Zacks Rank #3 (Hold).
Afya ( AFYA Quick Quote AFYA - Free Report) , Sonos ( SONO Quick Quote SONO - Free Report) and Skechers ( SKX Quick Quote SKX - Free Report) are some better-ranked stocks from the broader sector which investors can consider. Currently, AFYA, SONO and SKX sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here. Shares of Afya have decreased 6.7% year to date. The Zacks Consensus Estimate for AFYA’s 2023 revenues is pegged at $602.16 million, indicating a year-over-year increase of 33.19%. The consensus mark for earnings is pegged at 33 cents per share, which has remained unchanged over the past 30 days. Shares of Sonos have decreased 18% year to date. The Zacks Consensus Estimate for SONO’s 2023 revenues is pegged at $1.66 billion, indicating a year-over-year decline of 5.46%. The consensus mark for loss per share is pegged at 3 cents, which has decreased by 8 cents over the past 30 days. Shares of Skechers have gained 21.7% year to date. The Zacks Consensus Estimate for SKX’s 2023 revenues is pegged at $8.08 billion, indicating year-over-year growth of 8.51%. The consensus mark for earnings is pegged at 78 cents per share, which has decreased by 12 cents over the past 30 days.