Good grief, Charlie Brown! DHX Media is still a buy, says Echelon Wealth

May 15 20:05 2018 Print This Article

DHX Media’s stock is down, but analyst Rob Goff thinks someone will take a punt on the company.

DHX Media (TSX:DHX.B) may have underperformed in its latest quarterly results but the sale to Sony of part of its Peanuts stake is a step in the right direction, says Rob Goff of Echelon Wealth Partners. In a Tuesday research update, the analyst reiterated his “Buy” recommendation with a lowered target price of $5.75.

On Monday, Halifax-based DHX announced its third quarter fiscal 2018 financials, posting an $8-million loss over the period ended March 31 on a topline of $116.5 million. The company said it is currently undergoing a strategic review and as such has refrained from providing further guidance on its 2018.

“While top- and bottom-line results were below our expectations this quarter, content distribution and WildBrain delivered strong organic growth and Peanuts continued to perform ahead of plan,” said Michael Donovan, Executive Chair and CEO, in a press release. “We have taken corrective steps to return to sustainable growth, including executive changes, additional streamlining of costs and a refocusing of our business to enhance margins and cash generation.”

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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