ValuEngine lowered shares of tronc (NASDAQ:TRNC) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
Other analysts have also recently issued reports about the company. Noble Financial raised tronc to a buy rating and set a $19.00 target price for the company in a research note on Monday, March 12th. BidaskClub cut shares of tronc from a strong-buy rating to a buy rating in a research note on Wednesday, February 7th. Sidoti began coverage on shares of tronc in a research note on Wednesday, January 17th. They set a buy rating and a $25.00 price target for the company. Finally, Zacks Investment Research cut shares of tronc from a buy rating to a hold rating in a research note on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $20.67.
NASDAQ TRNC opened at $15.95 on Wednesday. tronc has a 52-week low of $10.80 and a 52-week high of $24.74. The company has a debt-to-equity ratio of 4.80, a current ratio of 1.56 and a quick ratio of 1.52. The company has a market cap of $591.95, a P/E ratio of 14.77 and a beta of 2.00.
tronc (NASDAQ:TRNC) last posted its earnings results on Wednesday, March 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.35). tronc had a return on equity of 53.46% and a net margin of 0.36%. The business had revenue of $435.02 million for the quarter, compared to the consensus estimate of $424.20 million. sell-side analysts expect that tronc will post 0.39 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of tronc by 67.4% during the 4th quarter. Acadian Asset Management LLC now owns 715,384 shares of the company’s stock worth $12,584,000 after acquiring an additional 287,998 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of tronc by 37.5% during the 4th quarter. Renaissance Technologies LLC now owns 501,700 shares of the company’s stock worth $8,825,000 after acquiring an additional 136,700 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of tronc by 27.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 364,899 shares of the company’s stock worth $5,302,000 after acquiring an additional 78,322 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of tronc by 38.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 280,094 shares of the company’s stock worth $4,070,000 after acquiring an additional 77,799 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of tronc by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 233,099 shares of the company’s stock worth $3,382,000 after acquiring an additional 26,299 shares in the last quarter. 38.07% of the stock is owned by institutional investors.
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tronc Company Profile
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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