tronc, Inc. (NASDAQ:TRNC) Lowered to “Hold” at Zacks Investment Research
tronc, Inc. (NASDAQ:TRNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “
Several other equities research analysts have also recently weighed in on TRNC. Noble Financial reiterated a “buy” rating on shares of tronc in a research note on Saturday, May 6th. TheStreet cut shares of tronc from a “c-” rating to a “d” rating in a research note on Friday, May 26th. Finally, ValuEngine cut shares of tronc from a “buy” rating to a “hold” rating in a research note on Friday, June 9th.
Shares of tronc (NASDAQ TRNC) opened at 13.51 on Thursday. tronc has a 52 week low of $8.76 and a 52 week high of $17.93. The firm’s 50-day moving average price is $12.82 and its 200 day moving average price is $13.21. The firm has a market cap of $443.47 million, a PE ratio of 37.84 and a beta of 1.77.
tronc (NASDAQ:TRNC) last released its earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The business had revenue of $369.79 million during the quarter, compared to analysts’ expectations of $375.05 million. Equities analysts anticipate that tronc will post $0.25 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in shares of tronc during the fourth quarter worth approximately $144,000. Trexquant Investment LP acquired a new position in shares of tronc during the first quarter worth approximately $179,000. LMR Partners LLP acquired a new position in shares of tronc during the second quarter worth approximately $172,000. KCG Holdings Inc. acquired a new position in shares of tronc during the first quarter worth approximately $189,000. Finally, American International Group Inc. boosted its position in shares of tronc by 7.1% in the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock worth $229,000 after buying an additional 1,082 shares in the last quarter. Hedge funds and other institutional investors own 37.37% 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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