McClatchy Co (NYSE:MNI)
December 5th, 2018
Amidst falling markets McClatchy Co finished Tuesday’s trading session down 0.86%, a $0.06 decrease to close on $6.94. As well as the drop in value, McClatchy Co hit a new 52 week low of $5.83, breaking the previous low of $6.12 from earlier this July. McClatchy Co bounced 19.21% between high and low. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -1.35.
MNI outperformed the rest of the Consumer Discretionary sector which went down just 3.91% today.
The market sectors were mixed Wednesday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.15%), while Financials saw the biggest drop (4.40%). Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector dropping 13%.
Utilities saw the biggest turnaround from its 5-day performance of 2.31%, as it went up 0.15%. Industrials and Consumer Discretionary both saw turn arounds from their five day positive performance, Industrials with a drop of 4.35%.
- Utilities went up with a 0.15% change.
- Real Estate went down with a -1.26% change.
- Consumer Staples went down with a -1.63% change.
- Healthcare went down with a -2.30% change.
- Energy went down with a -2.93% change.
- Materials went down with a -3.08% change.
- Communication Services went down with a -3.14% change.
- Information Technology went down with a -3.86% change.
- Consumer Discretionary went down with a -3.91% change.
- Industrials went down with a -4.35% change.
- Financials went down with a -4.40% change.
McClatchy Co Info
The McClatchy Company provides news and advertising services in digital and print formats in the United States. Its publications include the Miami Herald, The Kansas City Star, The Sacramento Bee, The Charlotte Observer, The (Raleigh) News and Observer, The (Fort Worth) Star-Telegram, and The (Durham, NC) Herald-Sun. The company’s businesses comprise daily newspapers, Websites, mobile applications, digital marketing agency, mobile news and advertising, video products, niche publications, print and digital direct marketing, email products, and community newspapers. The McClatchy Company was founded in 1857 and is headquartered in Sacramento, California.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that McClatchy Co’s score is -1.35) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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