Phoenix New Media (FENG) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Phoenix New Media (NYSE:FENG) from a hold rating to a buy rating in a report issued on Tuesday.

Several other brokerages also recently weighed in on FENG. Zacks Investment Research downgraded Phoenix New Media from a hold rating to a sell rating in a report on Tuesday, October 16th. Macquarie upped their price target on Phoenix New Media from $7.60 to $8.10 and gave the stock an outperform rating in a report on Thursday, August 16th. Finally, JPMorgan Chase & Co. restated an overweight rating and set a $10.00 price target on shares of Phoenix New Media in a report on Wednesday, August 29th.

Shares of NYSE FENG opened at $3.47 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.01. Phoenix New Media has a 1-year low of $3.06 and a 1-year high of $7.57. The stock has a market cap of $244.51 million, a price-to-earnings ratio of 43.38 and a beta of 2.54.

Phoenix New Media (NYSE:FENG) last issued its quarterly earnings results on Monday, November 12th. The information services provider reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.07). Phoenix New Media had a negative return on equity of 0.60% and a negative net margin of 1.07%. The company had revenue of $47.86 million for the quarter, compared to analysts’ expectations of $56.53 million. On average, research analysts expect that Phoenix New Media will post 0.07 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FENG. 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 valued at $118,000 after acquiring an additional 23,910 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Phoenix New Media by 142.2% in the 3rd quarter. Acadian Asset Management LLC now owns 61,526 shares of the information services provider’s stock valued at $260,000 after acquiring an additional 36,126 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 valued at $1,053,000 after acquiring 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 valued at $2,383,000 after acquiring an additional 36,512 shares during the last quarter. Institutional investors and hedge funds own 14.90% of the company’s stock.

Phoenix New Media Company Profile

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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