Tribune Media (TRCO) Upgraded by Zacks Investment Research to Hold

Tribune Media (NYSE:TRCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Tribune Media Company is engaged in broadcast distribution, digital properties and data businesses. The company provides Antenna TV, THIS TV, radio station, music and video content and technologies. It also owns and manages real estate properties. Tribune Media Company, formerly known as Tribune Company, is based in Chicago, Illinois. “

A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Tribune Media from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Deutsche Bank assumed coverage on Tribune Media in a report on Friday, October 20th. They set a “hold” rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $44.70.

Shares of Tribune Media (TRCO) traded down $0.12 during trading on Tuesday, hitting $42.33. The stock had a trading volume of 2,323,303 shares, compared to its average volume of 1,231,803. The stock has a market cap of $3,722.51, a PE ratio of -31.83, a price-to-earnings-growth ratio of 8.17 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.01. Tribune Media has a 12-month low of $28.93 and a 12-month high of $43.71.

Tribune Media (NYSE:TRCO) last announced its earnings results on Wednesday, November 8th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.06). The company had revenue of $450.53 million during the quarter, compared to analysts’ expectations of $459.81 million. Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. Tribune Media’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. equities analysts expect that Tribune Media will post 1.11 EPS for the current year.

In related news, insider Tribune L.P. Oaktree sold 7,000,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $40.36, for a total transaction of $282,520,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new stake in shares of Tribune Media in the 2nd quarter worth $1,981,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Tribune Media by 57.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 339,835 shares of the company’s stock worth $13,886,000 after buying an additional 124,419 shares during the period. Athos Capital Ltd lifted its holdings in shares of Tribune Media by 25.2% in the 3rd quarter. Athos Capital Ltd now owns 75,100 shares of the company’s stock worth $3,069,000 after buying an additional 15,100 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Tribune Media by 5.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 483,518 shares of the company’s stock worth $19,756,000 after buying an additional 27,048 shares during the period. Finally, Havens Advisors LLC lifted its holdings in shares of Tribune Media by 19.9% in the 3rd quarter. Havens Advisors LLC now owns 130,000 shares of the company’s stock worth $5,312,000 after buying an additional 21,600 shares during the period. Institutional investors and hedge funds own 90.09% of the company’s stock.

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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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