The McClatchy Company (NYSE:MNI) is one of the best performers on the stock market today. At current price of $2.01, the shares have already added 1.57 points (358.07% higher) from its previous close of $0.44. Should you buy or avoid them? The stock sets an active trading volume day with a reported 7807299 contracts so far this session. MNI shares had a relatively better volume day versus average trading capacity of 151.73 thousand shares, but with a 4.39 million float and a 1.34% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MNI stock indicates that the average analyst price target is $1.5 per share. This means the stock has a potential decrease of -25.37% from where the MNI share price has been trading recently.
During the recent trading session for The McClatchy Company (NYSE:MNI), the company witnessed their stock rise $1.34 over a week and surge $1.35 from the price 20 days ago. When compared to their established 52-week high of $7.74, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/17/19. The recent low of $0.29 stood for a -74.2% since 11/21/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -0.13 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for The McClatchy Company, the two-week RSI stands at 91.28. This figure suggests that MNI stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current MNI readings is similarly very revealing as it has a stochastic reading of 37.92% at this stage. This figure means that MNI share price today is being neutral.
Technical chart claims that The McClatchy Company (MNI) would settle between $0.48/share to $0.52/share level. However, if the stock price goes below the $0.41 mark, then the market for The McClatchy Company becomes much weaker. If that happens, the stock price might even plunge as low as $0.38 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.29. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Imperial Capital raised their recommendation on shares of MNI from Underperform to Outperform in their opinion released on October 23. JP Morgan analysts bumped their rating on The McClatchy Company (NYSE:MNI) stock from Underweight to Neutral in a separate flash note issued to investors on March 26. Analysts at Deutsche Securities are sticking to their Sell stance. However, on July 25, they lifted price target for these shares to $4 from $5.
MNI equity has an average rating of 3.41, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 1 analysts rated The McClatchy Company (NYSE:MNI) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
The McClatchy Company (MNI)’s current-quarter revenues are projected to climb by nearly -14.1% to hit $182900, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -12.1% from $807230 to a noteworthy $709300. At the other end of the current quarter income statement, The McClatchy Company is expected to see its adjusted earnings surge by roughly 590.9% to hit $0.54 per share. For the fiscal year, MNI’s earnings are projected to climb by roughly 44.4% to hit $-3.45 per share.