NEW YORK (

TheStreet

) --

Focus Media

(Nasdaq:

FMCN

) is trading at unusually high volume Friday with 12 million shares changing hands. It is currently at 4.9 times its average daily volume and trading down $2.67 (-13.1%) at $17.69 as of 3:20 p.m. ET.

Focus Media has a market cap of $3.4 billion and is part of the

services

sector and

media

industry. Shares are down 7.2% year to date as of the close of trading on Thursday.

Focus Media Holding Limited, a multi- platform digital media company, operates out-of-home advertising network using audiovisual digital displays in China. It operates out-of-home advertising network based on the number of locations and flat-panel television displays in its network. The company has a P/E ratio of 24.6, above the average media industry P/E ratio of 11.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Focus Media as a

hold

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, robust revenue growth and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full

Focus Media Ratings Report

.

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