Gannett's stock closed just minutes ago at $14.95, up 30 cents, or 2%, as investors continued a week-long rally before management's closely watched presentation to Wall Street media stock analysts during an industry conference on Wednesday.
It was the fourth consecutive trading day shares closed higher, according to Google Finance. They're now up 14% from last Tuesday, when they closed at $13.11 a share. (Historical prices.) The S&P 500 index, which tracks broader stock market activity, has climbed just 3.6% during the same period.
At the UBS Global Media and Communications Conference in New York, GCI and other media companies are scheduled to update analysts on results so far in the current quarter, as well as answer questions about ongoing initiatives. GCI is webcasting its 9 a.m. ET presentation to the public in listen-only mode.
Monday, December 06, 2010
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If GCI was at the median P/E ratio of the S&P 500, it'd be trading at over $30/share.
ReplyDeleteShowing overall company revenue growth year-over-year is the key to getting that P/E multiple back to a reasonable place. Not huge growth even --just growth of any kind. The P/E is so low because investors are not convinced that revenues won't keep declining.
I think they will do that for 4Q based on strong TV and digital and flat newspapers.