Tribune Media Company (TRCO) Earns Hold Rating from Jefferies Group LLC
Tribune Media Company (NYSE:TRCO)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Wednesday. They currently have a $42.00 target price on the stock. Jefferies Group LLC’s price target would suggest a potential upside of 6.84% from the company’s previous close.
Several other research firms have also recently issued reports on TRCO. Gabelli cut shares of Tribune Media Company from a “buy” rating to a “sell” rating in a report on Tuesday, May 9th. Morgan Stanley upgraded shares of Tribune Media Company from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $37.00 to $43.50 in a report on Tuesday, May 9th. BWS Financial decreased their price objective on shares of Tribune Media Company from $54.00 to $48.00 and set a “buy” rating for the company in a report on Monday, May 1st. Finally, Wells Fargo & Company cut shares of Tribune Media Company from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.50.
Shares of Tribune Media Company (NYSE TRCO) opened at 39.31 on Wednesday. The stock’s 50 day moving average price is $39.32 and its 200 day moving average price is $35.82. The stock’s market cap is $3.42 billion. Tribune Media Company has a 52 week low of $27.75 and a 52 week high of $43.04.
Tribune Media Company (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.14. The company had revenue of $439.90 million during the quarter, compared to the consensus estimate of $450.18 million. Tribune Media Company had a negative net margin of 4.09% and a positive return on equity of 4.40%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Equities research analysts anticipate that Tribune Media Company will post $1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Monday, May 22nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, May 18th. Tribune Media Company’s dividend payout ratio (DPR) is presently -108.70%.
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Several hedge funds and other institutional investors have recently bought and sold shares of TRCO. Ancora Advisors LLC boosted its stake in shares of Tribune Media Company by 39.5% in the fourth quarter. Ancora Advisors LLC now owns 198,352 shares of the company’s stock worth $6,938,000 after buying an additional 56,202 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Tribune Media Company during the fourth quarter worth $343,000. Sound Point Capital Management LP acquired a new stake in shares of Tribune Media Company during the fourth quarter worth $3,159,000. Wallace Capital Management Inc. boosted its stake in shares of Tribune Media Company by 7.3% in the fourth quarter. Wallace Capital Management Inc. now owns 490,662 shares of the company’s stock worth $17,164,000 after buying an additional 33,497 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Tribune Media Company during the fourth quarter worth $3,012,000.
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