4 Weeks Ago- McClatchy Company (MNI)
McClatchy Company has had a down month. The stock is down 3% since we proclaimed it to be our Undervalued Company of the Week. The big news of the month was that August Revenues slid on lower circulation and advertising. However, as we predicted, the company is making a transition into a greater online presence. Online advertising was the bright spot for the company’s report, having jumped 19.9% over last year’s figure.
We believe McClatchy is an even greater value today than it was 4 weeks ago. The company still has low PE and PB ratios. With its high Return on Invested Capital, we believe McClatchy has potential to reach $62 within the next few years.
Neither of us held a position in McClatchy at the time of publication. Also, please read our disclaimer.
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