Phoenix New Media Ltd ADR (FENG) was Resumed by JP Morgan to “Overweight”. JP Morgan advised their investors in a research report released on Aug 31, 2016.
On the company’s financial health, Phoenix New Media Ltd ADR reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.03. The company had revenue of $44.70 million for the quarter, compared to analysts expectations of $53.46 million. The company’s revenue was down -34.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.
Phoenix New Media Ltd ADR closed down -0.01 points or -0.28% at $3.56 with 2,24,833 shares getting traded on Monday. Post opening the session at $3.56, the shares hit an intraday low of $3.51 and an intraday high of $3.61 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet mobile and television (TV) channels in China. The Company’s in-house produced content allows its users to upload text and images (UGC) to its Websites. The Company enables consumers to access professional news and other quality information and UGC on the Internet and through their mobile devices. The Company also transmits its UGC and in-house produced content to TV viewers primarily through Phoenix TV. The Company’s platform includes ifeng.com channel consisting of its ifeng.com Website and Web-based game platform; video channel consists of its video vertical and mobile channel including its mobile Internet Website mobile applications and mobile value-added services. The Company offers a variety of paid services through both of its mobile and ifeng.com channels.