Lee Enterprises, Incorporated (LEE) Trading Down 24.1% on Disappointing Earnings

Lee Enterprises, Incorporated (LEE) Trading Down 24.1% on Disappointing Earnings

Shares of Lee Enterprises, Incorporated (NYSE:LEE) fell 24.1% on Thursday following a dissappointing earnings announcement. The stock traded as low as $2.00 and last traded at $2.05, with a volume of 1,408,047 shares changing hands. The stock had previously closed at $2.70.

The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by $0.13. Lee Enterprises, had a net margin of 5.98% and a negative return on equity of 16.66%. The business earned $133.39 million during the quarter, compared to analyst estimates of $137 million.

A number of brokerages have recently issued reports on LEE. TheStreet upgraded shares of Lee Enterprises, from a “d+” rating to a “c” rating in a research note on Monday, March 6th. Zacks Investment Research upgraded shares of Lee Enterprises, from a “sell” rating to a “hold” rating in a research note on Monday, February 13th.

Several institutional investors have recently made changes to their positions in LEE. Algert Global LLC boosted its position in shares of Lee Enterprises, by 8.7% in the first quarter. Algert Global LLC now owns 753,471 shares of the company’s stock worth $1,959,000 after buying an additional 60,129 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Lee Enterprises, by 12.1% in the first quarter. North Star Investment Management Corp. now owns 882,000 shares of the company’s stock worth $2,293,000 after buying an additional 95,000 shares in the last quarter. Round Hill Asset Management acquired a new position in shares of Lee Enterprises, during the fourth quarter worth about $126,000. GSA Capital Partners LLP boosted its position in shares of Lee Enterprises, by 36.6% in the fourth quarter. GSA Capital Partners LLP now owns 358,881 shares of the company’s stock worth $1,041,000 after buying an additional 96,200 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Lee Enterprises, during the fourth quarter worth about $438,000. Institutional investors own 36.55% of the company’s stock.

The stock has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.84. The stock has a market capitalization of $132.96 million, a price-to-earnings ratio of 3.60 and a beta of 2.18.

Lee Enterprises, Company Profile

Lee Enterprises, Incorporated is a provider of local news and information, and a platform for print and digital advertising. The Company’s products included 46 daily and 34 Sunday newspapers, 300 weekly newspapers, and classified and niche publications, as of September 25, 2016. The Company also provides a range of digital products, including video, digital couponing, behavioral targeting, audience retargeting, banner advertisements and social networking.

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