Tribune Media Co. (TRCO) Stock Rating Reaffirmed by Jefferies Group
Tribune Media Co. (NYSE:TRCO)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group in a research note issued on Friday. They currently have a $34.00 price target on the stock, down from their previous price target of $38.00. Jefferies Group’s price objective suggests a potential downside of 5.61% from the stock’s current price.
A number of other research analysts also recently issued reports on TRCO. Zacks Investment Research raised Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. Wells Fargo & Co. reissued a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.50.
Tribune Media (NYSE:TRCO) opened at 36.02 on Friday. The company’s market capitalization is $3.24 billion. The company’s 50 day moving average price is $33.93 and its 200-day moving average price is $37.25. Tribune Media has a 12-month low of $26.10 and a 12-month high of $40.72.
Tribune Media (NYSE:TRCO) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $518.10 million for the quarter, compared to the consensus estimate of $547.90 million. Tribune Media had a positive return on equity of 4.27% and a negative net margin of 18.26%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts forecast that Tribune Media will post $2.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.78%. Tribune Media’s dividend payout ratio is currently -24.39%.
Large investors have recently bought and sold shares of the company. Barington Capital Group L.P. increased its stake in Tribune Media by 40.0% in the first quarter. Barington Capital Group L.P. now owns 35,000 shares of the company’s stock valued at $1,342,000 after buying an additional 10,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tribune Media by 2.9% in the first quarter. Geode Capital Management LLC now owns 522,160 shares of the company’s stock worth $20,024,000 after buying an additional 14,924 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Tribune Media during the first quarter worth about $2,956,000. Parametrica Management Ltd acquired a new stake in shares of Tribune Media during the second quarter worth about $331,000. Finally, First Manhattan Co. increased its stake in shares of Tribune Media by 41.0% in the second quarter. First Manhattan Co. now owns 278,170 shares of the company’s stock worth $10,898,000 after buying an additional 80,850 shares during the period.
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