Emmis
Communications Corp. (EMMS) engages in radio and television broadcasting and
magazine publishing.
Key
Information:
Fundamental:
Sector:
Services
Industry:
Broadcasting - Radio
Liquidity:
Market
Capitalization: $499 million
Average daily
volume (3-month): 544 thousand shares
Closing Stock
Price: $13.55
Risk
Proxies:
52-week high /
52-week low: 2.06
Beta: 2.25
Debt/Equity:
N/A
Valuation:
Price/Sales:
1.29
Price/Book:
3.67
Price/Earnings:
1.66 (not representative)
Price/2007
Analyst Earnings Estimates: 41.06
Technical
Analysis
After
declining at a moderate and unsteady rate for months, EMMS broke down suddenly
in April; after declining more than 40% from the highs of early January, the
stock bounced more than 15% from the lows of April 18 to the highs of April
19. Unfortunately for shareholders, the bounce was very temporary, and
the stock soon tested the lows. However, momentum has begun to grow with
a couple of strongly positive days on unusually high volume. The fast
stochastic indicator crossed above the slow stochastic indicator on Wednesday.
We believe
that the current move is more than a minor bounce - we believe that the shift
in momentum (accompanied by strong volume) represents a real change in direction.
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Key
Levels
Buy:
Market
Bullish
breakout
Stop loss:
11.74
Below the
recent lows
Target:
14.97
Slightly below
the highs of the gap
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