BidaskClub Downgrades Tribune Media Company (TRCO) to Sell
Tribune Media Company (NYSE:TRCO) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Monday.
Several other analysts have also 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, July 13th. Jefferies Group LLC restated a “hold” rating and issued a $42.00 target price on shares of Tribune Media in a research report on Monday, August 14th. Finally, Deutsche Bank AG initiated coverage on Tribune Media in a research report on Friday. They issued a “hold” rating and a $42.00 target price on the stock. Three 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.88.
Shares of Tribune Media (NYSE TRCO) traded down 0.44% on Monday, reaching $40.55. The company had a trading volume of 202,900 shares. Tribune Media has a 12 month low of $27.75 and a 12 month high of $43.04. The stock has a 50 day moving average price of $40.50 and a 200-day moving average price of $40.09. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 73.06 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last posted its earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the 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 business had revenue of $469.50 million during the quarter, compared to analyst estimates of $472.56 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. Analysts forecast that Tribune Media will post $1.25 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new position in shares of Tribune Media during the 1st quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tribune Media by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after purchasing an additional 272 shares during the period. Sei Investments Co. increased its position in shares of Tribune Media by 237.1% during the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after purchasing an additional 3,777 shares during the period. Mizuho Securities USA LLC acquired a new position in shares of Tribune Media during the 2nd quarter valued at $204,000. Finally, Bluefin Trading LLC acquired a new position in shares of Tribune Media during the 2nd quarter valued at $204,000. Institutional investors own 97.12% of the company’s stock.
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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