McClatchy Co (MNI) Issues Earnings Results
McClatchy Co (NYSE:MNI) announced its earnings results on Monday. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.23), MarketWatch Earnings reports. The company had revenue of $212.60 million for the quarter, compared to analysts’ expectations of $223.96 million. McClatchy had a negative net margin of 16.63% and a negative return on equity of 2,313.90%.
Shares of McClatchy (NYSE:MNI) opened at 7.55 on Tuesday. The firm’s 50-day moving average is $7.59 and its 200-day moving average is $8.80. McClatchy has a 52 week low of $5.75 and a 52 week high of $18.94. The stock’s market capitalization is $57.55 million.
MNI has been the subject of a number of research reports. Noble Financial reiterated a “hold” rating on shares of McClatchy in a research note on Sunday, September 10th. Zacks Investment Research lowered shares of McClatchy from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Finally, ValuEngine lowered shares of McClatchy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.
In other McClatchy news, major shareholder Chatham Asset Management, Llc bought 76,344 shares of McClatchy stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average price of $7.84 per share, with a total value of $598,536.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 34.91% of the company’s stock.
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The McClatchy Company is a news and information publisher of various publications, such as the Miami Herald, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, and the (Fort Worth) Star-Telegram. The Company’s segments include Western Segment and Eastern Segment. Its Western Segment consists of its newspaper operations in California, the Northwest and the Midwest.
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