Friday, March 8, 2019

The McClatchy Company (MNI)

Why meeting expectation really doesn’t matter.

The McClatchy Co is
the third-largest newspaper publisher in the United States, operating 30
dailies and approximately 50 nondaily publications in 29 markets nationwide. 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

• Q4 results were largely in line. After adjusting for one week less in this period and real
  estate sales in the prior year quarter, the company met expectations, with cash
  flow down 8.2%, in line with its previous cash flow guidance of down 8% to down
  12%. The bright spot was that Digital only advertising increased a healthy 10%,
  an acceleration from the rate of growth in the year earlier quarter. 
• Crossing into the Digital divide. Management stated that it expects
  digital only advertising to surpass newspaper print advertising in 2019, which
  should help moderate revenue trends. In addition, management expects additional
  saving in operating expenses, bene…
  

  
  
  
  
  

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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.