McClatchy (MNI) Issues Quarterly Earnings Results, Misses Expectations By $1.99 EPS
McClatchy (NYSEAMERICAN:MNI) released its earnings results on Friday. The company reported ($3.03) EPS for the quarter, missing the consensus estimate of ($1.04) by ($1.99), MarketWatch Earnings reports. The company had revenue of $191.07 million for the quarter, compared to analyst estimates of $195.40 million.
Shares of MNI traded up $0.84 during mid-day trading on Friday, hitting $7.85. 9,214 shares of the company’s stock were exchanged, compared to its average volume of 10,322. McClatchy has a twelve month low of $6.90 and a twelve month high of $11.04.
Several analysts recently commented on the stock. Noble Financial reissued a “hold” rating on shares of McClatchy in a research note on Monday, July 30th. Zacks Investment Research raised shares of McClatchy from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Saturday, August 25th.
Large investors have recently bought and sold shares of the stock. Bingham Osborn & Scarborough LLC acquired a new position in McClatchy in the 2nd quarter valued at $159,000. Renaissance Technologies LLC grew its stake in McClatchy by 16.7% in the 2nd quarter. Renaissance Technologies LLC now owns 44,630 shares of the company’s stock valued at $444,000 after buying an additional 6,400 shares during the last quarter. Finally, Royce & Associates LP grew its stake in McClatchy by 2.6% in the 2nd quarter. Royce & Associates LP now owns 557,186 shares of the company’s stock valued at $5,544,000 after buying an additional 13,880 shares during the last quarter. Institutional investors and hedge funds own 35.62% of the company’s stock.
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McClatchy Company Profile
The McClatchy Company provides news and advertising services in digital and print formats in the United States. Its publications include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, The (Fort Worth) Star-Telegram, and The (Durham, NC) Herald-Sun.
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