NEW YORK ( TheStreet) -- Shares of Focus Media (Nasdaq: FMCN) were gapping up Monday morning with an open price 11.2% higher than Friday's closing price. The stock closed at $23.38 Friday and opened today's trading at $26.
The average volume for Focus Media has been 2.4 million shares per day over the past 30 days. Focus Media has a market cap of $2.79 billion and is part of the services sector and media industry. Shares are up 20% year to date as of the close of trading on Friday. Focus Media Holding Limited, a multi-platform digital media company, operates liquid crystal display (LCD) network using audiovisual digital displays in China. The company has a P/E ratio of 8.8, below the average media industry P/E ratio of nine and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Focus Media as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Focus Media Ratings Report. Get more investment ideas from our investment research center.
Focus Media (Nasdaq:FMCN) hit a new 52-week high Friday as it is currently trading at $27.41, above its previous 52-week high of $27.32 with 749,097 shares traded as of 2:35 p.m. ET. Average volume has been 1.4 million shares over the past 30 days.
Focus Media (Nasdaq:FMCN) hit a new 52-week high Monday as it is currently trading at $26.91, above its previous 52-week high of $26.90 with 1.3 million shares traded as of 3:25 p.m. ET. Average volume has been 1.6 million shares over the past 30 days.