Intrinsic value of Cision - CISN

Previous Close

$16.62

  Intrinsic Value

$48.66

stock screener

  Rating & Target

str. buy

+193%

Previous close

$16.62

 
Intrinsic value

$48.66

 
Up/down potential

+193%

 
Rating

str. buy

We calculate the intrinsic value of CISN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  35.00
  32.00
  29.30
  26.87
  24.68
  22.71
  20.94
  19.35
  17.91
  16.62
  15.46
  14.41
  13.47
  12.63
  11.86
  11.18
  10.56
  10.00
  9.50
  9.05
  8.65
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
Revenue, $m
  853
  1,126
  1,456
  1,847
  2,304
  2,827
  3,419
  4,080
  4,811
  5,611
  6,478
  7,412
  8,411
  9,473
  10,597
  11,781
  13,025
  14,328
  15,689
  17,110
  18,589
  20,129
  21,730
  23,394
  25,124
  26,921
  28,789
  30,730
  32,749
  34,850
Variable operating expenses, $m
  497
  605
  736
  891
  1,071
  1,279
  1,513
  1,775
  2,064
  2,381
  2,565
  2,935
  3,330
  3,751
  4,196
  4,665
  5,157
  5,673
  6,212
  6,774
  7,360
  7,970
  8,604
  9,263
  9,948
  10,659
  11,399
  12,167
  12,967
  13,798
Fixed operating expenses, $m
  192
  196
  201
  205
  210
  214
  219
  224
  229
  234
  239
  244
  249
  255
  261
  266
  272
  278
  284
  291
  297
  303
  310
  317
  324
  331
  338
  346
  353
  361
Total operating expenses, $m
  689
  801
  937
  1,096
  1,281
  1,493
  1,732
  1,999
  2,293
  2,615
  2,804
  3,179
  3,579
  4,006
  4,457
  4,931
  5,429
  5,951
  6,496
  7,065
  7,657
  8,273
  8,914
  9,580
  10,272
  10,990
  11,737
  12,513
  13,320
  14,159
Operating income, $m
  164
  325
  520
  752
  1,023
  1,334
  1,687
  2,082
  2,518
  2,996
  3,674
  4,233
  4,831
  5,467
  6,140
  6,850
  7,596
  8,377
  9,193
  10,045
  10,932
  11,855
  12,816
  13,814
  14,852
  15,931
  17,052
  18,217
  19,429
  20,690
EBITDA, $m
  545
  777
  1,058
  1,391
  1,781
  2,228
  2,735
  3,302
  3,928
  4,614
  5,359
  6,160
  7,018
  7,930
  8,895
  9,913
  10,982
  12,102
  13,272
  14,493
  15,765
  17,089
  18,466
  19,897
  21,384
  22,930
  24,537
  26,207
  27,944
  29,751
Interest expense (income), $m
  0
  111
  161
  222
  296
  383
  485
  602
  734
  882
  1,045
  1,224
  1,418
  1,626
  1,849
  2,086
  2,337
  2,602
  2,880
  3,171
  3,475
  3,792
  4,123
  4,467
  4,824
  5,196
  5,582
  5,984
  6,401
  6,835
  7,286
Earnings before tax, $m
  53
  164
  298
  456
  639
  849
  1,085
  1,348
  1,636
  1,951
  2,451
  2,816
  3,205
  3,618
  4,054
  4,513
  4,994
  5,497
  6,022
  6,570
  7,140
  7,733
  8,349
  8,990
  9,656
  10,348
  11,068
  11,816
  12,594
  13,404
Tax expense, $m
  14
  44
  80
  123
  173
  229
  293
  364
  442
  527
  662
  760
  865
  977
  1,095
  1,218
  1,348
  1,484
  1,626
  1,774
  1,928
  2,088
  2,254
  2,427
  2,607
  2,794
  2,988
  3,190
  3,400
  3,619
Net income, $m
  38
  119
  217
  333
  467
  620
  792
  984
  1,195
  1,424
  1,789
  2,056
  2,340
  2,641
  2,959
  3,294
  3,645
  4,013
  4,396
  4,796
  5,212
  5,645
  6,095
  6,563
  7,049
  7,554
  8,080
  8,626
  9,194
  9,785

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,617
  3,455
  4,467
  5,667
  7,066
  8,671
  10,487
  12,516
  14,758
  17,211
  19,872
  22,737
  25,800
  29,058
  32,505
  36,138
  39,953
  43,950
  48,127
  52,483
  57,022
  61,744
  66,656
  71,761
  77,066
  82,579
  88,309
  94,265
  100,458
  106,900
Adjusted assets (=assets-cash), $m
  2,617
  3,455
  4,467
  5,667
  7,066
  8,671
  10,487
  12,516
  14,758
  17,211
  19,872
  22,737
  25,800
  29,058
  32,505
  36,138
  39,953
  43,950
  48,127
  52,483
  57,022
  61,744
  66,656
  71,761
  77,066
  82,579
  88,309
  94,265
  100,458
  106,900
Revenue / Adjusted assets
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
  0.326
Average production assets, $m
  2,218
  2,928
  3,786
  4,803
  5,989
  7,350
  8,889
  10,609
  12,509
  14,588
  16,844
  19,272
  21,868
  24,629
  27,551
  30,630
  33,865
  37,252
  40,792
  44,485
  48,331
  52,335
  56,497
  60,825
  65,321
  69,994
  74,851
  79,899
  85,148
  90,609
Working capital, $m
  -18
  -24
  -31
  -39
  -48
  -59
  -72
  -86
  -101
  -118
  -136
  -156
  -177
  -199
  -223
  -247
  -274
  -301
  -329
  -359
  -390
  -423
  -456
  -491
  -528
  -565
  -605
  -645
  -688
  -732
Total debt, $m
  1,851
  2,552
  3,399
  4,404
  5,574
  6,918
  8,438
  10,136
  12,013
  14,066
  16,293
  18,691
  21,255
  23,981
  26,867
  29,907
  33,101
  36,446
  39,942
  43,589
  47,387
  51,340
  55,451
  59,724
  64,164
  68,779
  73,575
  78,560
  83,744
  89,136
Total liabilities, $m
  2,191
  2,892
  3,739
  4,743
  5,914
  7,258
  8,778
  10,476
  12,353
  14,406
  16,633
  19,031
  21,595
  24,321
  27,206
  30,247
  33,441
  36,786
  40,282
  43,928
  47,727
  51,680
  55,791
  60,064
  64,504
  69,119
  73,915
  78,900
  84,083
  89,476
Total equity, $m
  427
  563
  728
  924
  1,152
  1,413
  1,709
  2,040
  2,406
  2,805
  3,239
  3,706
  4,205
  4,736
  5,298
  5,890
  6,512
  7,164
  7,845
  8,555
  9,295
  10,064
  10,865
  11,697
  12,562
  13,460
  14,394
  15,365
  16,375
  17,425
Total liabilities and equity, $m
  2,618
  3,455
  4,467
  5,667
  7,066
  8,671
  10,487
  12,516
  14,759
  17,211
  19,872
  22,737
  25,800
  29,057
  32,504
  36,137
  39,953
  43,950
  48,127
  52,483
  57,022
  61,744
  66,656
  71,761
  77,066
  82,579
  88,309
  94,265
  100,458
  106,901
Debt-to-equity ratio
  4.340
  4.530
  4.670
  4.770
  4.840
  4.890
  4.940
  4.970
  4.990
  5.010
  5.030
  5.040
  5.050
  5.060
  5.070
  5.080
  5.080
  5.090
  5.090
  5.100
  5.100
  5.100
  5.100
  5.110
  5.110
  5.110
  5.110
  5.110
  5.110
  5.120
Adjusted equity ratio
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163
  0.163

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  38
  119
  217
  333
  467
  620
  792
  984
  1,195
  1,424
  1,789
  2,056
  2,340
  2,641
  2,959
  3,294
  3,645
  4,013
  4,396
  4,796
  5,212
  5,645
  6,095
  6,563
  7,049
  7,554
  8,080
  8,626
  9,194
  9,785
Depreciation, amort., depletion, $m
  381
  452
  538
  640
  758
  894
  1,048
  1,220
  1,410
  1,618
  1,684
  1,927
  2,187
  2,463
  2,755
  3,063
  3,386
  3,725
  4,079
  4,448
  4,833
  5,233
  5,650
  6,082
  6,532
  6,999
  7,485
  7,990
  8,515
  9,061
Funds from operations, $m
  420
  572
  755
  972
  1,225
  1,514
  1,840
  2,204
  2,605
  3,043
  3,473
  3,983
  4,527
  5,104
  5,714
  6,357
  7,032
  7,738
  8,475
  9,244
  10,045
  10,878
  11,745
  12,645
  13,581
  14,554
  15,565
  16,616
  17,709
  18,846
Change in working capital, $m
  -5
  -6
  -7
  -8
  -10
  -11
  -12
  -14
  -15
  -17
  -18
  -20
  -21
  -22
  -24
  -25
  -26
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -44
Cash from operations, $m
  424
  577
  762
  981
  1,235
  1,525
  1,853
  2,218
  2,620
  3,059
  3,492
  4,002
  4,547
  5,126
  5,738
  6,382
  7,058
  7,765
  8,504
  9,274
  10,076
  10,911
  11,778
  12,680
  13,617
  14,591
  15,604
  16,656
  17,751
  18,890
Maintenance CAPEX, $m
  -164
  -222
  -293
  -379
  -480
  -599
  -735
  -889
  -1,061
  -1,251
  -1,459
  -1,684
  -1,927
  -2,187
  -2,463
  -2,755
  -3,063
  -3,386
  -3,725
  -4,079
  -4,448
  -4,833
  -5,233
  -5,650
  -6,082
  -6,532
  -6,999
  -7,485
  -7,990
  -8,515
New CAPEX, $m
  -576
  -710
  -858
  -1,017
  -1,186
  -1,360
  -1,539
  -1,720
  -1,900
  -2,079
  -2,255
  -2,428
  -2,596
  -2,761
  -2,922
  -3,079
  -3,234
  -3,388
  -3,540
  -3,693
  -3,847
  -4,003
  -4,163
  -4,327
  -4,497
  -4,673
  -4,856
  -5,048
  -5,249
  -5,461
Cash from investing activities, $m
  -740
  -932
  -1,151
  -1,396
  -1,666
  -1,959
  -2,274
  -2,609
  -2,961
  -3,330
  -3,714
  -4,112
  -4,523
  -4,948
  -5,385
  -5,834
  -6,297
  -6,774
  -7,265
  -7,772
  -8,295
  -8,836
  -9,396
  -9,977
  -10,579
  -11,205
  -11,855
  -12,533
  -13,239
  -13,976
Free cash flow, $m
  -316
  -354
  -389
  -415
  -431
  -434
  -421
  -391
  -341
  -271
  -223
  -110
  24
  179
  353
  548
  761
  991
  1,239
  1,502
  1,781
  2,074
  2,382
  2,703
  3,038
  3,386
  3,748
  4,123
  4,512
  4,915
Issuance/(repayment) of debt, $m
  571
  701
  847
  1,005
  1,171
  1,343
  1,520
  1,698
  1,877
  2,053
  2,227
  2,398
  2,564
  2,726
  2,885
  3,041
  3,194
  3,345
  3,496
  3,647
  3,799
  3,953
  4,111
  4,273
  4,441
  4,614
  4,796
  4,985
  5,184
  5,392
Issuance/(repurchase) of shares, $m
  72
  17
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  643
  718
  847
  1,005
  1,171
  1,343
  1,520
  1,698
  1,877
  2,053
  2,227
  2,398
  2,564
  2,726
  2,885
  3,041
  3,194
  3,345
  3,496
  3,647
  3,799
  3,953
  4,111
  4,273
  4,441
  4,614
  4,796
  4,985
  5,184
  5,392
Total cash flow (excl. dividends), $m
  328
  364
  459
  589
  739
  909
  1,098
  1,307
  1,536
  1,782
  2,005
  2,288
  2,588
  2,905
  3,239
  3,589
  3,954
  4,336
  4,734
  5,149
  5,580
  6,027
  6,493
  6,976
  7,479
  8,001
  8,544
  9,108
  9,696
  10,307
Retained Cash Flow (-), $m
  -111
  -137
  -165
  -196
  -228
  -262
  -296
  -331
  -365
  -400
  -434
  -467
  -499
  -531
  -562
  -592
  -622
  -651
  -681
  -710
  -740
  -770
  -801
  -832
  -865
  -899
  -934
  -971
  -1,009
  -1,050
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  4
  6
  8
  10
  13
  16
  20
  24
  29
  34
  39
  45
  52
  59
  66
  74
  82
  91
  100
  110
  120
  130
  141
  152
  164
  176
  188
  202
  215
  229
Cash available for distribution, $m
  217
  227
  294
  394
  511
  647
  802
  977
  1,170
  1,383
  1,571
  1,821
  2,089
  2,374
  2,677
  2,996
  3,332
  3,685
  4,054
  4,439
  4,840
  5,258
  5,692
  6,144
  6,614
  7,102
  7,610
  8,137
  8,686
  9,257
Discount rate, %
  11.10
  11.66
  12.24
  12.85
  13.49
  14.17
  14.88
  15.62
  16.40
  17.22
  18.08
  18.98
  19.93
  20.93
  21.98
  23.08
  24.23
  25.44
  26.71
  28.05
  29.45
  30.92
  32.47
  34.09
  35.80
  37.59
  39.47
  41.44
  43.51
  45.69
PV of cash for distribution, $m
  195
  182
  208
  243
  272
  292
  304
  306
  298
  282
  252
  226
  197
  166
  136
  108
  83
  62
  45
  32
  21
  14
  9
  5
  3
  2
  1
  0
  0
  0
Current shareholders' claim on cash, %
  94.6
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7
  93.7

FINANCIAL RATIOS  of  Cision (CISN)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

CISN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CISN stock intrinsic value calculation we used $632 million for the last fiscal year's total revenue generated by Cision. The default revenue input number comes from 2017 income statement of Cision. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CISN stock valuation model: a) initial revenue growth rate of 35% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 11.1%, whose default value for CISN is calculated based on our internal credit rating of Cision, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cision.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CISN stock the variable cost ratio is equal to 64.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $188 million in the base year in the intrinsic value calculation for CISN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.7% for Cision.

Corporate tax rate of 27% is the nominal tax rate for Cision. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CISN stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CISN are equal to 260%.

Life of production assets of 10 years is the average useful life of capital assets used in Cision operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CISN is equal to -2.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $316 million for Cision - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 76 million for Cision is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cision at the current share price and the inputted number of shares is $1.3 billion.

COMPANY NEWS

▶ Cision Names Gregg Spratto As Chief Operating Officer   [Aug-10-18 08:10AM  PR Newswire]
▶ Cision: 2Q Earnings Snapshot   [05:37PM  Associated Press]
▶ Cision Ltd. to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ Cision® Acquires ShareIQ Visual Recognition Technology   [Jul-30-18 08:30AM  PR Newswire]
▶ Cision Ltd. Announces Pricing of Secondary Offering   [Jun-14-18 08:35PM  PR Newswire]
▶ Breakeven On The Horizon For Cision Ltd (NYSE:CISN)   [Jun-07-18 07:30PM  Simply Wall St.]
▶ Cision: 1Q Earnings Snapshot   [May-08-18 06:33PM  Associated Press]
▶ Cision's 2018 April Fools' Day Guidelines   [Mar-29-18 01:18PM  CNW Group]
▶ Cision Ltd. Announces Pricing of Secondary Offering   [Mar-20-18 09:10PM  PR Newswire]
▶ Cision reports 4Q loss   [Mar-08-18 07:47PM  Associated Press]
▶ MediaMath and Cision® Bridge Paid and Earned Media   [Mar-07-18 08:00AM  PR Newswire]
▶ Cision (CISN) Jumps: Stock Rises 9.1%   [Jan-30-18 08:57AM  Zacks]
▶ Cision Completes Acquisition of PRIME Research   [Jan-24-18 08:00AM  PR Newswire]
▶ Cision Agrees to Acquire PRIME Research   [Dec-26-17 01:00AM  PR Newswire]
▶ Cision Acquires CEDROM-SNi Inc.   [09:00AM  PR Newswire]
▶ Cision Acquires CEDROM-SNi Inc.   [09:00AM  CNW Group]
▶ /C O R R E C T I O N -- Cision/   [Nov-07-17 07:25PM  PR Newswire]
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