JP Morgan Downgrades TelevisaUnivision (TV) to Neutral
JP Morgan analyst Marcelo Santos has downgraded Grupo Televisa SA (NYSE: TV), the parent company behind TelevisaUnivision, from Overweight to Neutral. The downgrade comes after the company’s fourth-quarter 2025 results and a sharp 16% decline in the stock price over the past week, which brought shares down to approximately $2.79.
Why the Rating Changed
Analyst Marcelo Santos pointed to two primary factors driving the downgrade:
- Higher costs expected in 2026: Santos flagged rising cost concerns as a key issue for TelevisaUnivision heading into the next fiscal year. The expectation of elevated expenses appears to have dampened the firm’s outlook on the company’s near-term profitability and earnings trajectory.
- Post-earnings reassessment: The downgrade was issued following the company’s fourth-quarter 2025 results, suggesting the reported numbers and forward guidance prompted JP Morgan to recalibrate its expectations for the stock.
It is worth noting that despite the downgrade, InvestingPro analysis referenced in coverage of the rating change suggests that TelevisaUnivision may remain undervalued at current price levels. This indicates that while the near-term outlook has become less favorable in JP Morgan’s view, the stock’s valuation could still offer appeal to longer-term or value-oriented investors.
On a more positive note, TelevisaUnivision’s content business continues to perform well. Univision currently dominates the 2025-2026 television season as the No. 1 network among U.S. Hispanics, outperforming rival Telemundo in both primetime and total day viewership. Additionally, Noticiero N+ Univision holds the distinction of being the No. 1 news program on all of television regardless of language. While strong viewership metrics are a competitive advantage, JP Morgan’s concerns appear to center on the cost side of the equation rather than the company’s audience reach.
Dividend Overview
TelevisaUnivision currently pays an annual dividend of $0.09 per share, which translates to a dividend yield of approximately 3.25% at recent price levels. The most recent ex-dividend date was May 29, 2025.
For dividend-focused investors, the yield is modest in absolute dollar terms given the low share price, but the 3.25% yield is notable. However, with cost pressures on the horizon and the stock under downward pressure, investors should monitor whether the company can sustain its dividend payout in the face of potentially compressed margins in 2026.
Key Takeaways
- JP Morgan moved from Overweight to Neutral, citing cost concerns heading into 2026.
- The stock has already fallen 16% in the past week following Q4 2025 results.
- Univision’s content performance remains strong, ranking No. 1 among U.S. Hispanic audiences.
- The stock offers a 3.25% dividend yield, but sustainability should be watched closely given the cost outlook.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.