Lee Enterprises, Incorporated (LEE) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lee Enterprises, Incorporated (NYSE:LEE) from a sell rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “LEE ENTERPRISES, INC. is a premier publisher of local news, information and advertising in primarily midsize markets, with 50 daily newspapers and a joint interest in four others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee’s newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee’s online sites attract 12 million unique visitors monthly, and Lee’s weekly publications have distribution of more than 4.5 million households. Lee’s other newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; and Tucson, Ariz. “

Lee Enterprises, (NYSE:LEE) opened at 2.975 on Monday. The company’s 50-day moving average price is $3.04 and its 200 day moving average price is $2.96. Lee Enterprises, has a 52-week low of $1.17 and a 52-week high of $3.92. The stock has a market capitalization of $168.33 million, a P/E ratio of 4.563 and a beta of 2.18.

Lee Enterprises, (NYSE:LEE) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The business earned $93.04 million during the quarter, compared to the consensus estimate of $105.64 million. Lee Enterprises, had a net margin of 5.98% and a negative return on equity of 16.66%. During the same quarter last year, the firm earned $0.09 EPS. On average, equities research analysts predict that Lee Enterprises, will post $0.41 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. MSI Financial Services Inc increased its stake in shares of Lee Enterprises, by 2,557.7% in the third quarter. MSI Financial Services Inc now owns 33,912 shares of the company’s stock worth $127,000 after buying an additional 32,636 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Lee Enterprises, by 103.4% in the third quarter. Acrospire Investment Management LLC now owns 41,389 shares of the company’s stock worth $155,000 after buying an additional 21,042 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Lee Enterprises, by 31.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 89,365 shares of the company’s stock worth $259,000 after buying an additional 21,173 shares during the last quarter. Blue Clay Capital Management LLC boosted its position in Lee Enterprises, by 15.8% in the third quarter. Blue Clay Capital Management LLC now owns 115,793 shares of the company’s stock worth $434,000 after buying an additional 15,789 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its position in Lee Enterprises, by 7.1% in the third quarter. Alambic Investment Management L.P. now owns 116,337 shares of the company’s stock worth $436,000 after buying an additional 7,696 shares during the last quarter. Institutional investors and hedge funds own 36.55% of the company’s stock.

About Lee Enterprises,

Lee Enterprises, Incorporated is a provider of local news and information, and a platform for print and digital advertising. The Company’s products included 46 daily and 34 Sunday newspapers, 300 weekly newspapers, and classified and niche publications, as of September 25, 2016. The Company also provides a range of digital products, including video, digital couponing, behavioral targeting, audience retargeting, banner advertisements and social networking.

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