Tribune Media Company (TRCO) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Tribune Media Company (NYSE:TRCO) have been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $44.50.
A number of research firms have recently commented on TRCO. Zacks Investment Research cut Tribune Media from a “hold” rating to a “strong sell” rating in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $42.00 price target on shares of Tribune Media in a research note on Wednesday, June 14th. Morgan Stanley raised shares of Tribune Media from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $37.00 to $43.50 in a research note on Tuesday, May 9th. Gabelli lowered shares of Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Finally, BWS Financial decreased their price target on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Tribune Media by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 6,339,456 shares of the company’s stock worth $236,272,000 after buying an additional 415,009 shares during the period. Vanguard Group Inc. raised its position in Tribune Media by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,049,595 shares of the company’s stock worth $225,468,000 after buying an additional 456,589 shares during the period. BlackRock Inc. raised its position in Tribune Media by 10,758.5% in the first quarter. BlackRock Inc. now owns 3,059,287 shares of the company’s stock worth $114,020,000 after buying an additional 3,031,113 shares during the period. Morgan Stanley raised its position in Tribune Media by 59.6% in the first quarter. Morgan Stanley now owns 2,811,082 shares of the company’s stock worth $104,769,000 after buying an additional 1,049,539 shares during the period. Finally, Canyon Capital Advisors LLC acquired a new position in Tribune Media during the first quarter worth $51,808,000.
Shares of Tribune Media (NYSE:TRCO) traded down 0.10% during trading on Monday, hitting $41.31. The stock had a trading volume of 761,131 shares. Tribune Media has a 12-month low of $27.75 and a 12-month high of $43.04. The firm’s market cap is $3.59 billion. The firm has a 50 day moving average price of $39.86 and a 200 day moving average price of $36.33.
Tribune Media (NYSE:TRCO) last posted its earnings results on Wednesday, May 10th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.14. Tribune Media had a negative net margin of 4.09% and a positive return on equity of 4.40%. The business had revenue of $439.90 million for the quarter, compared to analyst estimates of $450.18 million. During the same quarter last year, the business earned $0.22 earnings per share. Tribune Media’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts expect that Tribune Media will post $1.42 earnings per share for the current fiscal year.
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Tribune Media Company Profile
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