Tribune Media (NYSE:TRCO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, January 5th. The firm presently has a $48.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.73% from the company’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. “
A number of other brokerages have also weighed in on TRCO. BidaskClub raised Tribune Media from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Deutsche Bank initiated coverage on Tribune Media in a research report on Friday, October 20th. They set a “hold” rating and a $42.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.70.
Tribune Media (NYSE TRCO) opened at $43.35 on Friday. Tribune Media has a 1-year low of $27.75 and a 1-year high of $43.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $3,794.97, a P/E ratio of -32.59, a P/E/G ratio of 8.49 and a beta of 1.51.
Tribune Media (NYSE:TRCO) last issued its earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.06). The firm had revenue of $450.53 million for the quarter, compared to the consensus estimate of $459.81 million. Tribune Media had a negative net margin of 6.12% and a positive return on equity of 4.11%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. equities analysts forecast that Tribune Media will post 1.11 EPS for the current year.
In other 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 value of $282,520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Tribune Media by 9.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,400 shares of the company’s stock worth $654,000 after acquiring an additional 1,300 shares in the last quarter. Athos Capital Ltd raised its position 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 acquiring an additional 15,100 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Tribune Media by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 279,481 shares of the company’s stock worth $11,420,000 after acquiring an additional 5,381 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Tribune Media by 72.6% in the 3rd quarter. Janus Henderson Group PLC now owns 83,900 shares of the company’s stock worth $3,428,000 after acquiring an additional 35,300 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Tribune Media by 16.5% in the 3rd quarter. Jane Street Group LLC now owns 9,823 shares of the company’s stock worth $401,000 after acquiring an additional 1,389 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.
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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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