Zacks Investment Research upgraded shares of Tribune (NYSE:TRCO) from a sell rating to a hold rating in a report released on Wednesday.
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. “
Other analysts have also issued research reports about the company. ValuEngine raised Tribune from a sell rating to a hold rating in a research report on Saturday, December 1st. Wolfe Research began coverage on Tribune in a research report on Friday, December 7th. They issued an underperform rating and a $44.00 target price on the stock. Gabelli began coverage on Tribune in a research report on Tuesday, November 27th. They issued a buy rating on the stock. Finally, FinnCap began coverage on Tribune in a research report on Tuesday, November 27th. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $42.17.
TRCO opened at $46.42 on Wednesday. Tribune has a one year low of $31.61 and a one year high of $46.46. The company has a market capitalization of $4.05 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.35 and a current ratio of 3.35.
Tribune (NYSE:TRCO) last released its quarterly earnings data on Friday, March 1st. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. Tribune had a return on equity of 7.72% and a net margin of 31.69%. The firm had revenue of $578.73 million for the quarter, compared to analysts’ expectations of $577.59 million. During the same period in the prior year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, analysts anticipate that Tribune will post 1.92 EPS for the current year.
The company also recently announced a dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 8th. Tribune’s payout ratio is 27.17%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC purchased a new stake in shares of Tribune during the fourth quarter worth $64,000. PNC Financial Services Group Inc. increased its holdings in Tribune by 23.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,666 shares of the company’s stock valued at $76,000 after buying an additional 321 shares during the last quarter. Laurion Capital Management LP purchased a new position in Tribune in the third quarter valued at $207,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Tribune by 7.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,517 shares of the company’s stock valued at $250,000 after buying an additional 402 shares during the last quarter. Finally, HRT Financial LLC purchased a new position in Tribune in the fourth quarter valued at $263,000. 98.11% of the stock is currently owned by institutional investors.
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, MY 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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