Why Fairfax Media Limited is a top share market gainer today

Fairfax Media Limited’s (ASX: FXJ) share price is up nearly 8% to $0.77 at the time of writing, with a one year performance of gains of 4%. The company’s presentations at the Macquarie Conference yesterday and today have led to increased buying interest, as the company focuses on its transformation into a digital company.

Domain continues to be the significant driver of growth in the company as newspaper advertising revenue continues to dive. 

Fairfax is trading on a forward price-to-earnings (PER) multiple of 12x and has an annual dividend yield of 4.3%. 

The outlook for the company is dependent on the success of Domain and Stan, with revenues from newspaper advertising continuing to fall. 

Media company, NEWS CORP’s (ASX: NWS) share price is up 24% for the year to $21.66. The company is trading on a forward PER of 33x. 

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Motley Fool contributor Rosemary Steinfort 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.

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