Phoenix New Media (FENG) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Phoenix New Media (NYSE:FENG) from a hold rating to a sell rating in a report issued on Tuesday morning.

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. “

FENG has been the subject of a number of other reports. ValuEngine downgraded Phoenix New Media from a hold rating to a sell rating in a research note on Tuesday, July 24th. 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. Finally, Macquarie lifted their price target on Phoenix New Media from $7.60 to $8.10 and gave the stock an outperform rating in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.05.

NYSE:FENG opened at $3.50 on Tuesday. The stock has a market capitalization of $305.28 million, a P/E ratio of 43.75 and a beta of 2.25. Phoenix New Media has a one year low of $3.37 and a one year high of $8.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.21 and a quick ratio of 2.21.

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

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Phoenix New Media by 741.9% in the first 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 period. Dimensional Fund Advisors LP boosted its stake in Phoenix New Media by 8.3% in the first 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 period. Finally, BlackRock Inc. boosted its stake in Phoenix New Media by 7.1% in the first 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 period. Institutional investors own 15.33% of the company’s stock.

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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