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Equities research analysts at Renaissance Capital decreased their target price on shares of CTC Media (NASDAQ:CTCM) from $10.70 to $10.40 in a research note issued to investors on Thursday, StockRatingsNetwork reports. Renaissance Capital’s target price would suggest a potential upside of 19.95% from the company’s current price.

CTC Media (NASDAQ:CTCM) traded up 2.48% on Thursday, hitting $8.67. The stock had a trading volume of 937,581 shares. CTC Media has a one year low of $8.25 and a one year high of $13.95. The stock’s 50-day moving average is $9.10 and its 200-day moving average is $11.34. The company has a market cap of $1.350 billion and a P/E ratio of 8.72.

CTC Media (NASDAQ:CTCM) last announced its earnings results on Wednesday, April 30th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.03. The company had revenue of $186.25 million for the quarter, compared to the consensus estimate of $195.29 million. The company’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that CTC Media will post $0.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend is Thursday, June 12th.

A number of other firms have also recently commented on CTCM. Analysts at Credit Suisse downgraded shares of CTC Media from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 23rd. Separately, analysts at Zacks downgraded shares of CTC Media from a “neutral” rating to an “underperform” rating in a research note on Wednesday, March 19th. They now have a $8.90 price target on the stock. Finally, analysts at TheStreet downgraded shares of CTC Media from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. CTC Media presently has an average rating of “Hold” and an average price target of $11.70.

CTC Media, Inc operates three Russian television networks CTC, Domashny and Peretz. CTC network offers entertainment programming targeted at 6-54 year-old viewers.

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