Tribune Media (NYSE:TRCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, January 5th. The brokerage presently has a $48.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.70% from the stock’s previous close.
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. “
Several other brokerages have also commented on TRCO. BidaskClub upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Deutsche Bank started coverage on shares of Tribune Media in a report on Friday, October 20th. They set a “hold” rating and a $42.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $44.70.
Shares of Tribune Media (NYSE:TRCO) opened at $42.59 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.76 and a current ratio of 1.76. Tribune Media has a 1-year low of $28.20 and a 1-year high of $43.71. The firm has a market cap of $3,782.75, a PE ratio of -32.02, a PEG ratio of 8.30 and a beta of 1.51.
Tribune Media (NYSE:TRCO) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.06). Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. The company had revenue of $450.53 million during the quarter, compared to analysts’ expectations of $459.81 million. During the same quarter last year, the business earned $0.56 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. research analysts predict 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 firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.36, for a total transaction of $282,520,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tribune Media by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after purchasing an additional 272 shares during the period. Cerebellum GP LLC bought a new stake in Tribune Media in the 4th quarter worth approximately $132,000. Nationwide Fund Advisors grew its position in Tribune Media by 80.6% in the 2nd quarter. Nationwide Fund Advisors now owns 4,976 shares of the company’s stock worth $203,000 after purchasing an additional 2,220 shares during the period. Bluefin Trading LLC bought a new stake in Tribune Media in the 2nd quarter worth approximately $204,000. Finally, LMR Partners LLP bought a new stake in Tribune Media in the 3rd quarter worth approximately $204,000. 90.96% 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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