Tribune Media Company (TRCO) Rating Lowered to Sell at BidaskClub
Tribune Media Company (NYSE:TRCO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
TRCO has been the subject of a number of other reports. Jefferies Group LLC reiterated a “hold” rating and issued a $42.00 target price on shares of Tribune Media in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.50.
Tribune Media (NYSE:TRCO) opened at 40.05 on Thursday. The company has a market capitalization of $3.49 billion, a P/E ratio of 72.16 and a beta of 1.53. The firm has a 50-day moving average of $40.36 and a 200 day moving average of $39.49. Tribune Media has a 52-week low of $27.75 and a 52-week high of $43.04.
Tribune Media (NYSE:TRCO) last posted its earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share (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 firm 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 firm earned $0.52 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts predict that Tribune Media will post $1.29 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new position in Tribune Media in the 1st quarter valued at $103,000. Asset Management One Co. Ltd. purchased a new stake in shares of Tribune Media during the 1st quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $126,000 after purchasing an additional 272 shares in the last quarter. Sei Investments Co. boosted 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 worth $200,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Mizuho Securities USA LLC purchased a new stake in shares of Tribune Media during the 2nd quarter worth $204,000. Institutional investors and hedge funds own 97.18% 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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