tronc (TRNC) Rating Increased to Hold at Zacks Investment Research
tronc (NASDAQ:TRNC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “
A number of other research analysts have also recently issued reports on the stock. BidaskClub cut shares of tronc from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Noble Financial set a $21.00 target price on shares of tronc and gave the company a “buy” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. tronc presently has an average rating of “Hold” and a consensus price target of $21.33.
tronc (NASDAQ:TRNC) last posted its earnings results on Thursday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.51). tronc had a net margin of 18.03% and a return on equity of 9.05%. The firm had revenue of $253.04 million during the quarter. As a group, sell-side analysts anticipate that tronc will post -0.33 EPS for the current year.
Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of tronc by 245.5% in the first quarter. Citigroup Inc. now owns 8,057 shares of the company’s stock valued at $133,000 after acquiring an additional 5,725 shares during the last quarter. SG Americas Securities LLC bought a new position in tronc in the 2nd quarter worth approximately $168,000. WINTON GROUP Ltd bought a new position in tronc in the 2nd quarter worth approximately $175,000. Element Capital Management LLC bought a new position in tronc in the 1st quarter worth approximately $382,000. Finally, Raymond James & Associates bought a new position in tronc in the 2nd quarter worth approximately $594,000. Institutional investors own 38.71% of the company’s stock.
tronc, Inc, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
Recommended Story: S&P 500 Index
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for tronc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for tronc and related companies with MarketBeat.com's FREE daily email newsletter.