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Why AirMedia Group (AMCN) Is Plummeting on Thursday

NEW YORK (TheStreet) -- AirMedia Group (AMCN - Get Report) is plummeting on Thursday after the company posted annual earnings and sales lower than analysts had expected.

By late morning, shares had taken off 10.1% to $2.86.

In the 12 months to December, the outdoor advertising specialist reported revenue 5% lower than the year earlier. Sales of $272.3 million fell short of analysts' estimates by $360,000, according to surveys by Thomson Reuters.

The Beijing-based firm posted an adjusted net loss of 14 cents a share, a wider margin than the 13-cents-a-share loss analysts had expected.

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TheStreet Ratings team rates AIRMEDIA GROUP INC -ADS as a Sell with a ratings score of D+. The team has this to say about their recommendation:

"We rate AIRMEDIA GROUP INC -ADS (AMCN) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been poor profit margins."

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SYM TRADE IT LAST %CHG
AMCN $6.18 0.00%
AAPL $131.29 -0.57%
FB $80.55 0.00%
GOOG $538.73 -0.20%
TSLA $247.00 -0.17%

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DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

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