Tribune Media Company (TRCO) Stock Rating Lowered by BidaskClub
Tribune Media Company (NYSE:TRCO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other equities research analysts have also weighed in on TRCO. Jefferies Group LLC reissued a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research note on Wednesday, June 14th. Zacks Investment Research lowered Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.50.
Shares of Tribune Media (NYSE TRCO) traded down 0.15% during midday trading on Thursday, reaching $39.81. The company’s stock had a trading volume of 40,355 shares. The stock has a 50-day moving average price of $40.53 and a 200 day moving average price of $39.44. Tribune Media has a 52 week low of $27.75 and a 52 week high of $43.04. The stock has a market capitalization of $3.47 billion, a PE ratio of 71.73 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.07). The company had revenue of $469.50 million for the quarter, compared to the consensus estimate of $472.56 million. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Equities analysts forecast that Tribune Media will post $1.29 earnings per share for the current year.
Several institutional investors have recently modified their holdings of TRCO. Nationwide Fund Advisors acquired a new stake in shares of Tribune Media in the first quarter worth $103,000. Asset Management One Co. Ltd. acquired a new stake in shares of Tribune Media in the first quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tribune Media by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after buying an additional 272 shares during the period. Sei Investments Co. boosted its position in shares of Tribune Media by 237.1% in the first quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock worth $200,000 after buying an additional 3,777 shares during the period. Finally, Mizuho Securities USA LLC acquired a new stake in shares of Tribune Media in the second quarter worth $204,000. 97.18% of the stock is owned by institutional investors and hedge funds.
About Tribune Media
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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