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News

Zacks Lowers CTC Media to Hold

CTC Media, Inc. logoZacks lowered shares of CTC Media (NASDAQ:CTCM) from a buy rating to a hold rating in a research report released on Friday morning.

Zacks’ analyst wrote, “CTC Media Inc. is one of the largest commercial television broadcasters in Russia offering entertainment programming. It operates two free-to-air Russian television networks, CTC and Domashny, and a number of owned-and-operated regional television stations across Russia, which broadcast CTC and Domashny programming. “

Zacks has also updated their ratings on a number of other services stocks in the last week. The firm upgraded shares of Nidec Co. from a sell rating to a hold rating. Also, Zacks downgraded shares of Bank of Montreal from a buy rating to a hold rating. Finally, Zacks upgraded shares of AngloGold Ashanti Limited from a hold rating to a buy rating. Zacks now has a $11.00 price target on that stock.

CTC Media (NASDAQ:CTCM) opened at 3.20 on Friday. CTC Media has a 52-week low of $3.10 and a 52-week high of $11.51. The stock has a 50-day moving average of $3. and a 200-day moving average of $4.. The company has a market cap of $499.53 million and a price-to-earnings ratio of 5.93.

CTC Media (NASDAQ:CTCM) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.01. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $81.80 million. During the same quarter last year, the company posted $0.20 earnings per share. CTC Media’s revenue was down 57.5% compared to the same quarter last year. On average, analysts predict that CTC Media will post $0.25 earnings per share for the current fiscal year.

Separately, analysts at JPMorgan Chase & Co. reiterated an underweight rating and set a $3.70 price target (down previously from $3.75) on shares of CTC Media in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. CTC Media has a consensus rating of Hold and a consensus target price of $6.45.

CTC Media, Inc (NASDAQ:CTCM) is a Russia-based independent media company. The Company manages four television channels in Russia (CTC, Domashny, Peretz and CTC Love) as well as Channel 31 in Kazakhstan and a TV company in Moldova with combined audience over 150 million viewers.

To get a free copy of the research report on CTC Media (CTCM), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com