Brokerages Set $24.00 Target Price for tronc, Inc. (TRNC)
tronc, Inc. (NASDAQ:TRNC) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target of $24.00 for the company and are predicting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also given tronc an industry rank of 41 out of 265 based on the ratings given to related companies.
Several research firms have recently commented on TRNC. Noble Financial restated a “buy” rating on shares of tronc in a report on Saturday, May 6th. Zacks Investment Research upgraded shares of tronc from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, July 5th. ValuEngine cut shares of tronc from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, TheStreet cut shares of tronc from a “c-” rating to a “d” rating in a report on Friday, May 26th.
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Shares of tronc (NASDAQ:TRNC) traded up 4.53% on Tuesday, reaching $13.85. The company had a trading volume of 45,642 shares. The stock has a market capitalization of $454.63 million, a PE ratio of 38.80 and a beta of 1.77. The company has a 50 day moving average price of $12.76 and a 200 day moving average price of $13.22. tronc has a 52-week low of $8.76 and a 52-week high of $17.93.
tronc (NASDAQ:TRNC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The business had revenue of $369.79 million for the quarter, compared to analysts’ expectations of $375.05 million. On average, equities research analysts anticipate that tronc will post $0.25 earnings per share for the current year.
A number of large investors have recently modified their holdings of TRNC. AQR Capital Management LLC acquired a new stake in shares of tronc during the fourth quarter worth about $144,000. Trexquant Investment LP acquired a new stake in shares of tronc during the first quarter worth about $179,000. LMR Partners LLP acquired a new stake in shares of tronc during the second quarter worth about $172,000. KCG Holdings Inc. acquired a new stake in shares of tronc during the first quarter worth about $189,000. Finally, American International Group Inc. boosted its stake in shares of tronc by 7.1% in the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock worth $229,000 after buying an additional 1,082 shares in the last quarter. Hedge funds and other institutional investors own 37.37% of the company’s stock.
tronc Company Profile
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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