Zacks Investment Research upgraded shares of Phoenix New Media (NYSE:FENG) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Phoenix New Media Limited provides premium content on an integrated platform across Internet, mobile and TV channels in China. The Company provides global news coverage, investigative reports and in-depth analysis of events in compelling presentation formats. It enable consumers to access professional news and other quality content and share user-generated content, or UGC, on the Internet and through their mobile devices. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I.) Holding Limited and is based in Beijing, the Peoples’ Republic of China. “
A number of other brokerages also recently issued reports on FENG. JPMorgan Chase & Co. reissued an overweight rating and issued a $10.00 price target on shares of Phoenix New Media in a report on Wednesday, August 29th. ValuEngine raised Phoenix New Media from a sell rating to a hold rating in a report on Wednesday, August 22nd. Finally, Macquarie boosted their price target on Phoenix New Media from $7.60 to $8.10 and gave the company an outperform rating in a report on Thursday, August 16th.
NYSE:FENG traded down $0.01 during trading hours on Tuesday, reaching $3.57. The company had a trading volume of 1,004 shares, compared to its average volume of 145,098. Phoenix New Media has a 1-year low of $3.06 and a 1-year high of $8.14. The company has a market capitalization of $225.70 million, a PE ratio of 43.75 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. Phoenix New Media had a return on equity of 1.31% and a net margin of 2.14%. The company had revenue of $54.78 million during the quarter. Equities research analysts predict that Phoenix New Media will post 0.07 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in FENG. BlackRock Inc. raised its stake in shares of Phoenix New Media by 7.1% during 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 period. JPMorgan Chase & Co. raised its stake in shares of Phoenix New Media by 741.9% during 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 period. Dimensional Fund Advisors LP raised its stake in shares of Phoenix New Media by 8.3% during 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 period. Finally, Acadian Asset Management LLC raised its stake in shares of Phoenix New Media by 142.2% during the 3rd quarter. Acadian Asset Management LLC now owns 61,526 shares of the information services provider’s stock worth $260,000 after buying an additional 36,126 shares during the period. 15.32% of the stock is owned by institutional investors and hedge funds.
About Phoenix New Media
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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