Tribune Media’s (TRCO) “Hold” Rating Reaffirmed at Jefferies Group
“TRCO closed the sale of its Tribune Tower, LA Times Square, and Olympic Plant properties this week.”,” Jefferies Group’s analyst commented.
Several other equities analysts have also recently commented on the company. Wells Fargo & Co. restated a buy rating on shares of Tribune Media in a research report on Monday, September 26th. Zacks Investment Research upgraded Tribune Media from a sell rating to a hold rating in a research report on Saturday, August 20th. Citigroup Inc. began coverage on Tribune Media in a research report on Wednesday, June 15th. They set a sell rating for the company. Finally, Morgan Stanley restated a sell rating on shares of Tribune Media in a research report on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $44.17.
Shares of Tribune Media (NYSE:TRCO) opened at 36.23 on Thursday. The firm’s market cap is $3.28 billion. The stock has a 50 day moving average price of $37.50 and a 200 day moving average price of $38.25. Tribune Media has a 52 week low of $26.10 and a 52 week high of $42.23.
Tribune Media (NYSE:TRCO) last posted its earnings results on Tuesday, August 9th. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Tribune Media had a positive return on equity of 3.67% and a negative net margin of 24.18%. The business earned $526.10 million during the quarter, compared to analysts’ expectations of $539.10 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Tribune Media will post $2.23 earnings per share for the current year.
In other news, insider Matthew Cherniss sold 11,705 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $38.92, for a total value of $455,558.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.
Several large investors have recently added to or reduced their stakes in TRCO. Metropolitan Life Insurance Co. NY raised its stake in Tribune Media by 9.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,571 shares of the company’s stock worth $101,000 after buying an additional 220 shares during the period. Envestnet Asset Management Inc. raised its stake in Tribune Media by 24.4% in the first quarter. Envestnet Asset Management Inc. now owns 3,546 shares of the company’s stock worth $136,000 after buying an additional 696 shares during the period. M&T Bank Corp bought a new stake in Tribune Media during the second quarter worth $213,000. Bayesian Capital Management LP bought a new stake in Tribune Media during the first quarter worth $217,000. Finally, BNP Paribas Arbitrage SA raised its stake in Tribune Media by 38.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,969 shares of the company’s stock worth $273,000 after buying an additional 1,918 shares during the period.
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