Tribune Media (TRCO) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Tribune Media (NYSE:TRCO) from a buy rating to a hold rating in a research report report published on Thursday morning.
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 equities analysts have also recently issued reports about the company. BidaskClub upgraded Tribune Media from a sell rating to a hold rating in a report on Tuesday, October 31st. Deutsche Bank began coverage on Tribune Media in a report on Friday, October 20th. They issued a hold rating and a $42.00 price objective 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 has an average rating of Hold and an average target price of $44.70.
Shares of Tribune Media (TRCO) traded down $0.12 during midday trading on Thursday, reaching $43.35. The company’s stock had a trading volume of 1,260,000 shares, compared to its average volume of 1,150,000. The company has a market cap of $3,780.00, a price-to-earnings ratio of -62.83, a P/E/G ratio of 8.47 and a beta of 1.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.76 and a quick ratio of 1.76. Tribune Media has a fifty-two week low of $27.75 and a fifty-two week high of $43.54.
Tribune Media (NYSE:TRCO) last announced its earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The business had revenue of $450.53 million during the quarter, compared to the consensus estimate of $459.81 million. Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. Tribune Media’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. sell-side analysts expect that Tribune Media will post 1.11 EPS for the current fiscal year.
In other news, insider Tribune L.P. Oaktree sold 7,000,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Tribune Media by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,066,444 shares of the company’s stock worth $247,329,000 after purchasing an additional 16,849 shares in the last quarter. Pentwater Capital Management LP purchased a new position in shares of Tribune Media in the 2nd quarter worth about $228,312,000. Magnetar Financial LLC boosted its holdings in shares of Tribune Media by 1.5% in the 3rd quarter. Magnetar Financial LLC now owns 3,494,856 shares of the company’s stock worth $142,800,000 after purchasing an additional 50,070 shares in the last quarter. York Capital Management Global Advisors LLC boosted its holdings in Tribune Media by 208.4% during the 2nd quarter. York Capital Management Global Advisors LLC now owns 1,549,379 shares of the company’s stock valued at $63,168,000 after acquiring an additional 1,047,037 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Tribune Media by 484.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,326,656 shares of the company’s stock valued at $54,088,000 after acquiring an additional 1,099,513 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.
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About Tribune Media
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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