Tribune Media Company (TRCO) Receives New Coverage from Analysts at Deutsche Bank AG
Analysts at Deutsche Bank AG began coverage on shares of Tribune Media Company (NYSE:TRCO) in a note issued to investors on Friday. The firm set a “hold” rating and a $42.00 price target on the stock. Deutsche Bank AG’s target price points to a potential upside of 3.52% from the company’s previous close.
TRCO has been the subject of a number of other reports. BidaskClub raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $43.88.
Shares of Tribune Media (TRCO) opened at 40.57 on Friday. The stock has a 50 day moving average price of $40.47 and a 200-day moving average price of $40.01. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 73.10 and a beta of 1.53. Tribune Media has a 52-week low of $27.75 and a 52-week high of $43.04.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.07). Tribune Media had a net margin of 2.49% and a return on equity of 4.38%. The company had revenue of $469.50 million for the quarter, compared to analyst estimates of $472.56 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Tribune Media’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Tribune Media will post $1.29 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Boyar Asset Management Inc. increased its stake in shares of Tribune Media by 34.1% during the 4th quarter. Boyar Asset Management Inc. now owns 44,702 shares of the company’s stock worth $1,511,000 after purchasing an additional 11,373 shares in the last quarter. Swiss National Bank purchased a new position in shares of Tribune Media during the 4th quarter worth approximately $3,460,000. Omega Advisors Inc. increased its stake in shares of Tribune Media by 7.6% during the 1st quarter. Omega Advisors Inc. now owns 3,970,628 shares of the company’s stock worth $152,274,000 after purchasing an additional 281,033 shares in the last quarter. Morgan Stanley increased its stake in shares of Tribune Media by 181.2% during the 3rd quarter. Morgan Stanley now owns 2,267,633 shares of the company’s stock worth $82,814,000 after purchasing an additional 1,461,200 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Tribune Media by 887.2% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 84,900 shares of the company’s stock worth $3,101,000 after purchasing an additional 76,300 shares in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.
Tribune Media Company Profile
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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