Noble Financial Reaffirms “Buy” Rating for tronc, Inc. (TRNC)
tronc, Inc. (NASDAQ:TRNC)‘s stock had its “buy” rating reiterated by investment analysts at Noble Financial in a note issued to investors on Thursday.
TRNC has been the topic of a number of other reports. TheStreet lowered shares of tronc from a “c-” rating to a “d” rating in a research report on Friday, May 26th. Zacks Investment Research lowered shares of tronc from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, ValuEngine lowered shares of tronc from a “buy” rating to a “hold” rating in a research report on Friday, June 9th.
Shares of tronc (NASDAQ TRNC) traded down 0.54% during midday trading on Thursday, hitting $14.62. 99,870 shares of the stock were exchanged. tronc has a 1-year low of $8.76 and a 1-year high of $17.93. The stock has a market capitalization of $480.90 million, a price-to-earnings ratio of 40.95 and a beta of 1.75. The firm’s 50 day moving average is $13.39 and its 200-day moving average is $13.23.
tronc (NASDAQ:TRNC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The company had revenue of $369.79 million for the quarter, compared to analyst estimates of $375.05 million. On average, analysts predict that tronc will post $0.81 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRNC. Teachers Advisors LLC lifted its position in shares of tronc by 19.4% during the fourth quarter. Teachers Advisors LLC now owns 60,552 shares of the company’s stock valued at $840,000 after purchasing an additional 9,855 shares in the last quarter. First Trust Advisors LP lifted its position in shares of tronc by 118.0% during the first quarter. First Trust Advisors LP now owns 59,662 shares of the company’s stock valued at $830,000 after purchasing an additional 32,297 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of tronc by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 97,942 shares of the company’s stock valued at $1,364,000 after purchasing an additional 3,296 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of tronc by 6.2% during the first quarter. Parametric Portfolio Associates LLC now owns 124,386 shares of the company’s stock valued at $1,731,000 after purchasing an additional 7,295 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of tronc during the first quarter valued at about $179,000. 36.05% of the stock is currently owned by institutional investors.
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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