Phoenix New Media Ltd. (FENG) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Shares of Phoenix New Media Ltd. (NYSE:FENG) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Zacks has also given Phoenix New Media an industry rank of 192 out of 265 based on the ratings given to its competitors.
Separately, JPMorgan Chase & Co. initiated coverage on shares of Phoenix New Media in a research note on Wednesday, August 31st. They set an “overweight” rating and a $4.30 price objective on the stock.
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Shares of Phoenix New Media (NYSE:FENG) traded down 1.36% during mid-day trading on Thursday, reaching $3.62. 37,759 shares of the company were exchanged. The company’s 50-day moving average is $3.64 and its 200 day moving average is $3.85. The firm has a market capitalization of $278.85 million, a price-to-earnings ratio of 24.30 and a beta of 0.95. Phoenix New Media has a 12 month low of $3.31 and a 12 month high of $6.19.
Phoenix New Media (NYSE:FENG) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $52.16 million. Phoenix New Media had a net margin of 4.79% and a return on equity of 3.53%. Phoenix New Media’s revenue was down 34.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share. Analysts predict that Phoenix New Media will post $0.03 EPS for the current year.
Several hedge funds have recently bought and sold shares of FENG. Edmond DE Rothschild Holding S.A. purchased a new stake in Phoenix New Media during the first quarter worth about $120,000. State Street Corp raised its stake in Phoenix New Media by 17.9% in the first quarter. State Street Corp now owns 59,656 shares of the company’s stock worth $266,000 after buying an additional 9,046 shares in the last quarter. Acadian Asset Management LLC raised its stake in Phoenix New Media by 88.9% in the second quarter. Acadian Asset Management LLC now owns 113,814 shares of the company’s stock worth $419,000 after buying an additional 53,555 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Phoenix New Media by 132.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 97,568 shares of the company’s stock worth $434,000 after buying an additional 55,681 shares in the last quarter. Finally, Indus Capital Partners LLC raised its stake in Phoenix New Media by 35.4% in the second quarter. Indus Capital Partners LLC now owns 135,449 shares of the company’s stock worth $498,000 after buying an additional 35,400 shares in the last quarter. Institutional investors own 19.30% of the company’s stock.
Phoenix New Media Company Profile
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China. The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.
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