re NYT and other newspaper stocks (NYT,GCI,KRI,TRB)
NYT seems to be the dog of the group. Trading at the lowest EV/Sales and justifiable so, since PE, Growth and FCF yield are the worst in that group. Forecasts are not much better, if i believe the analysts per yahoo. Overall, NYT seems to be a reversal of the mean play, even withing the newspaper group which is in itself a reversal to the man play. I'd say based on the fundamentals, i like TRB as a national and GCI as a regional newspaper play more. Both are more expensive on a EV/sales but cheaper on a FCF and PE basis. Overall, i prefer media plays like the broadcasters (VIA.b, TVL) more than the newspapers, since they have similar FCF yields and cash flow multiples but better growth prospects, IMO. |
