Phoenix New Media Upgraded to “Buy” at TheStreet (FENG)
Phoenix New Media (NASDAQ:FENG) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Thursday, Stock Ratings News reports.
The analysts wrote, “Phoenix New Media (FENG) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Shares of Phoenix New Media (NASDAQ:FENG) traded down 0.33% during mid-day trading on Thursday, hitting $9.14. 231,552 shares of the company’s stock traded hands. Phoenix New Media has a one year low of $3.79 and a one year high of $13.58. The stock’s 50-day moving average is $9.91 and its 200-day moving average is $10.09. The company has a market cap of $704.1 million and a price-to-earnings ratio of 15.87.
Phoenix New Media (NASDAQ:FENG) last announced its earnings results on Monday, May 12th. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.62 by $0.03. On average, analysts predict that Phoenix New Media will post $4.17 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank cut their price target on shares of Phoenix New Media from $16.20 to $15.70 in a research note on Tuesday. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Phoenix New Media in a research note on Tuesday. They now have a $10.20 price target on the stock. Finally, analysts at Zacks downgraded shares of Phoenix New Media from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $11.10 price target on the stock. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Phoenix New Media presently has an average rating of “Hold” and an average price target of $11.80.
Phoenix New Media Limited (NASDAQ:FENG) is a new media company providing content on an integrated platform across Internet, mobile and television (TV) channels in China.
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