Nine Entertainment Co Holdings Ltd zooms as peers falter

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.

Don’t Buy A SINGLE Stock Until You Read This

While conflict overseas is all media talking-heads seem to mention these days, the billionaire founder of Tesla is losing sleep over what he sees as a far bigger threat.

Elon Musk Warns: This has “vastly more risk than North Korea”

If you missed your opportunity to get in on Google, Microsoft, or Amazon in their early days, don't let it happen again. This emerging technology trend could offer a second chance for anyone who wishes they took part in these millionaire-maker stocks.

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.