Shares in media entertainment group Nine Entertainment Co Holdings Ltd (ASX: NEC) were on the rise again today, up 1.7% to $2.27 at the time of writing, recovering from a share price slide in the last few days after a successful 12-months of rises.
Nine shares hit a 52-week high on March 19 when they reached $2.39 after trending upwards since the release of strong half-year results in February which saw a net profit jump of 55%.
Credit Suisse downgraded Nine from outperform to neutral this week, increasing FY18 earnings estimates by 2.9% and FY19 estimates by 8.1% as the share continues to outperform its media peers, with Seven West Media Ltd (ASX: SWM) shares on a downward spiral over the last 12-months, from 76c per share at this time last year to 55c per share at the time of writing.
Shares in multi-platform media group Fairfax Media Ltd (ASX: FXJ) have also dropped, from $1.46 at this time last year to just 68c today while former APN News and Media company HT&E Ltd (ASX: HT1) has been circling 52-week low territory this month, with a drop of 33% from its $2.84 share price at this time last year.
