Shares of Primedia (NYSE:PRM) have taken a tremendous swing upward. The stock is trading at $7.02 as of 10:02 a.m. ET, 60.2% above Friday's closing price of $4.38. Volume is at 1.6 million, 26.5 times the daily average of 59,900.
NEW YORK ( TheStreet) -- Shares of Primedia (NYSE: PRM) have taken a tremendous swing upward. The stock is trading at $7.02 as of 10:02 a.m. ET, 60.2% above Friday's closing price of $4.38. Volume is at 1.6 million, 26.5 times the daily average of 59,900. Primedia has a market cap of $194.8 million and is part of the services sector and media industry. Shares are up 4.3% year to date as of the close of trading on Friday. PRIMEDIA Inc., together with its subsidiaries, engages in the production and distribution of consumer directories primarily for the apartment and other rental property sectors of the residential real estate industry through online, print, and mobile platforms. The company has a P/E ratio of 8.6, below the average media industry P/E ratio of 8.9 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Primedia as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that revenues have generally been declining. You can view the full Primedia Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.
The ex-dividend date for Primedia (NYSE:PRM) is tomorrow, March 10, 2011. Owners of shares as of market close today will be eligible for a dividend of 7 cents per share. At a price of $4.58 as of 9:40 a.m., the dividend yield is 6.5%.