Skip to comments.Analyst Lowers Earnings Estimates for Many Newspaper Companies
Posted on 10/03/2006 4:05:56 AM PDT by baystaterebel
Shares of newspaper publishers headed mostly lower Monday after a Deutsche Bank analyst lowered his fourth-quarter and full-year 2007 earnings estimates on some companies.
Analyst Paul Ginocchio cut full-year 2007 forecasts on Tribune Co., New York Times Co., McClatchy Co., Belo Corp., Lee Enterprises Inc., E.W. Scripps Co., Washington Post Co., Gannett Co. and Media General Inc. due to weaker-than-expected third-quarter advertising trends.
Tribune's full-year earnings per share estimate fell to $1.99 from $2.01, while the New York Times dropped to $1.36 from $1.46. McClatchy's estimate slipped to $2.52 from $2.62 and Media General sagged to $2.37 from $2.44. Belo declined to $1.10 from $1.13, Lee fell to $1.91 from $1.95, Scripps shed a penny to $2.40 and the Washington Post slumped to $42.27 from $43.91. Gannett dropped to $4.85 from $4.95 per share.
(Excerpt) Read more at editorandpublisher.com ...
Where is that big, red "Schadenfreude" someone always posts on these dying newspaper stories?
couldn't happen to a more deserving bunch.
fold u rags.
This election cycle isn't going to help. The month-before hysteria is ridiculous. They're leaning so far left they may as well be sleeping - which, arguably, they are.