Noble Financial Reaffirms “Buy” Rating for tronc, Inc. (TRNC)
Several other research analysts have also commented on TRNC. TheStreet lowered shares of tronc from a c- rating to a d rating in a research note on Friday, May 26th. ValuEngine lowered shares of tronc from a buy rating to a hold rating in a research note on Friday, June 9th. Finally, Zacks Investment Research upgraded shares of tronc from a hold rating to a buy rating and set a $14.00 price objective for the company in a research note on Wednesday, July 5th.
Shares of tronc (NASDAQ:TRNC) opened at 14.05 on Thursday. The stock’s 50 day moving average is $13.48 and its 200-day moving average is $13.24. tronc has a 12-month low of $8.76 and a 12-month high of $17.93. The stock has a market cap of $462.15 million, a PE ratio of 39.36 and a beta of 1.75.
tronc (NASDAQ:TRNC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.01 by $0.35. The firm had revenue of $369.79 million during the quarter, compared to analyst estimates of $375.05 million. tronc had a net margin of 0.83% and a return on equity of 63.98%. Equities analysts expect that tronc will post $0.81 EPS for the current year.
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A number of institutional investors have recently modified their holdings of TRNC. Teachers Advisors LLC increased its stake in tronc by 19.4% during the 4th quarter. Teachers Advisors LLC now owns 60,552 shares of the company’s stock valued at $840,000 after purchasing an additional 9,855 shares in the last quarter. First Trust Advisors LP increased its stake in tronc by 118.0% during the 1st quarter. First Trust Advisors LP now owns 59,662 shares of the company’s stock valued at $830,000 after purchasing an additional 32,297 shares in the last quarter. Bank of New York Mellon Corp increased its stake in tronc by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 97,942 shares of the company’s stock valued at $1,364,000 after purchasing an additional 3,296 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in tronc by 6.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 124,386 shares of the company’s stock valued at $1,731,000 after purchasing an additional 7,295 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in tronc during the 1st quarter valued at approximately $179,000. Institutional investors and hedge funds own 36.05% of the company’s stock.
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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