The Benchmark Company Raised EPS Estimates on Belo

A report from The Benchmark Company reiterates its Buy rating and $9 price target and raises its FY11/12 EPS estimates to $.65/$.92 on Belo BLC. The report states, “Belo… reported 3Q11 total revenue of $152 million, down 7% y/y, falling short of consensus' and our $156 million estimate. Adjusted EBITDA was down 15% y/y to $43 million, above our $42 million estimate, reflecting slightly lower than anticipated costs. Adjusted EPS was $0.13, flat y/y and above our $0.10 estimate and consensus at $0.11." BLC closed yesterday at $6.44.