Phoenix New Media (FENG) Hits New 52-Week Low at $3.35

Phoenix New Media Ltd (NYSE:FENG) shares reached a new 52-week low on Thursday . The company traded as low as $3.35 and last traded at $3.36, with a volume of 1963 shares trading hands. The stock had previously closed at $3.55.

Several brokerages have commented on FENG. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $10.00 price target on shares of Phoenix New Media in a research note on Wednesday, August 29th. ValuEngine upgraded shares of Phoenix New Media from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Macquarie boosted their price target on shares of Phoenix New Media from $7.60 to $8.10 and gave the stock an “outperform” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research cut shares of Phoenix New Media from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.05.

The company has a market capitalization of $305.28 million, a P/E ratio of 42.75 and a beta of 2.25. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01.

Phoenix New Media (NYSE:FENG) last announced its quarterly earnings results on Tuesday, August 14th. The information services provider reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. Phoenix New Media had a net margin of 2.14% and a return on equity of 1.31%. The business had revenue of $54.78 million for the quarter. Analysts expect that Phoenix New Media Ltd will post 0.09 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Phoenix New Media by 741.9% in the 1st quarter. JPMorgan Chase & Co. now owns 27,133 shares of the information services provider’s stock worth $118,000 after buying an additional 23,910 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Phoenix New Media by 8.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 242,005 shares of the information services provider’s stock worth $1,053,000 after buying an additional 18,641 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Phoenix New Media by 7.1% in the 1st quarter. BlackRock Inc. now owns 547,860 shares of the information services provider’s stock worth $2,383,000 after buying an additional 36,512 shares during the last quarter. Hedge funds and other institutional investors own 15.33% of the company’s stock.

About Phoenix New Media (NYSE:FENG)

Phoenix New Media Limited provides content on an integrated Internet platform in the People's Republic of China. The company operates in two segments, Net Advertising Services and Paid Services. It offers content and services through three channels, including PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV.

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