Why CTC Media Shares Shot Up

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Russian broadcaster CTC Media (UNKNOWN: CTCM.DL  ) jumped as much as 17% after reporting quarterly results this morning.

So what: Sales at Russia's largest independent media company grew 12% to $264.2 million in the quarter and adjusted earnings per share grew 5% to $0.41, both of which topped estimates. Perhaps more important for investors, CTC hiked its annual dividend payout from $0.52 to $0.63, but with today's jump in the stock price, the already-juicy yield only improved from 5.4% to 5.5%.

Now what: The 2013 outlook looks strong as the company said 80% of advertising inventory is already sold, and the Russian TV advertising market is projected to grow 10% this year in constant-currency terms. CTC seems to be mostly a dividend play, but with improving in a steadily growing industry CTC seems like an all-around solid pick.

Want more on CTC? Add the stock to your Watchlist right here.

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Related Tickers

12/31/1969 7:00 PM
CTCM.DL $0.00 Down +0.00 +0.00%
CTC Media CAPS Rating: ***