Moody’s Investors Service increased its outlook on Media General, Inc. (NYSE:MEG) to positive from stable following Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRKB) previous current week decided to purchase around all of the firm’s newspaper assets for $142 million plus provide it with $445 million of new financing.
Media General at present has a corporate family rating of Caa1, which denotes highly speculative territory.
Berkshire will increased 63 newspapers in 4 southern states to its vast stable of firms and will provide $445 million in credit to Media General in exchange for warrants that would give Buffett’s conglomerate a nearly 20 percent stake in the firm.
Turning towards the sector Gannett Co., Inc. (NYSE:GCI) lost -0.92%, The New York Times Company (NYSE:NYT) fell -2.06%, Lee Enterprises, Incorporated (NYSE:LEE) trade at flat, The McClatchy Company (NYSE:MNI) edged up +0.42%, The E.W.Scripps Company (NYSE:SSP) which decreased -0.55% and A. H. Belo Corporation (NYSE:AHC) slipped -1.63%.
Media General, Inc. (NYSE:MEG) after opening at $4.25 hit high price of $4.28 and then closed at $3.64 by plunging -12.92% and on last session volume of 545,937.00 shares was surprisingly higher than its average volume of 149,635.00 shares.
The stock price volatility was 11.91% for a week and 7.35% for a month as well as price volatility’s Average True Range for 14 days was 0.36 and its beta remained 2.89.
The liquidity measure in recent quarter results of the company was recorded 1.30 as current ratio and on the other side the debt to equity ratio was 32922.00 and long-term debt to equity ratio also remained 32922.00. The Company had total cash at hand $12.18 million in the most recent quarter.
MEG generated revenue of 616.78 million in the following twelve months and earned -$82.94 million. The Company showed a negative -13.45% in the net profit margin and as well as in its operating margin which remained -2.15%. Company’s annual sales growth for the past five year was -7.94%.
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