Tribune Media Company (TRCO) Receives Consensus Recommendation of “Hold” from Brokerages
Tribune Media Company (NYSE:TRCO) has earned an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $43.88.
A number of research analysts recently commented on the company. Zacks Investment Research cut Tribune Media from a “hold” rating to a “strong sell” rating in a report on Thursday, July 13th. BidaskClub raised Tribune Media from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Deutsche Bank AG assumed coverage on Tribune Media in a report on Friday, October 20th. They issued a “hold” rating and a $42.00 price target on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $42.00 price target on shares of Tribune Media in a report on Monday, August 14th.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRCO. Nationwide Fund Advisors purchased a new position in Tribune Media in the 1st quarter worth approximately $103,000. First Trust Advisors LP purchased a new position in Tribune Media in the 1st quarter worth approximately $282,000. UBS Asset Management Americas Inc. lifted its holdings in Tribune Media by 26.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 72,080 shares of the company’s stock worth $2,686,000 after purchasing an additional 15,087 shares in the last quarter. Karp Capital Management Corp purchased a new position in Tribune Media in the 1st quarter worth approximately $301,000. Finally, Sei Investments Co. lifted its holdings in Tribune Media by 237.1% in the 1st quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock worth $200,000 after purchasing an additional 3,777 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.
Tribune Media (TRCO) traded down 0.10% on Wednesday, hitting $40.71. 630,701 shares of the company traded hands. Tribune Media has a 1-year low of $27.75 and a 1-year high of $43.04. The firm has a market capitalization of $3.55 billion, a PE ratio of 73.35 and a beta of 1.53. The firm’s 50 day moving average price is $40.50 and its 200 day moving average price is $40.11.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share 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 analysts’ expectations of $472.56 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Equities research analysts predict that Tribune Media will post $1.25 EPS for the current fiscal year.
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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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