Tribune Media Company (TRCO) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Tribune Media Company (NYSE:TRCO) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.50.
TRCO has been the topic of a number of research analyst reports. BidaskClub lowered shares of Tribune Media from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Zacks Investment Research lowered shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research note on Monday, August 14th.
Institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors acquired a new position in Tribune Media in the first quarter worth approximately $103,000. Asset Management One Co. Ltd. acquired a new position in Tribune Media in the first quarter worth approximately $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tribune Media by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after buying an additional 272 shares during the last quarter. Mizuho Securities USA LLC acquired a new position in Tribune Media in the second quarter worth approximately $204,000. Finally, Bluefin Trading LLC acquired a new position in Tribune Media in the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 97.13% of the company’s stock.
Tribune Media (NYSE TRCO) traded up 0.20% during midday trading on Friday, hitting $40.86. The company had a trading volume of 2,717,702 shares. The company’s 50 day moving average is $40.26 and its 200 day moving average is $39.59. Tribune Media has a 12-month low of $27.75 and a 12-month high of $43.04. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 73.62 and a beta of 1.53.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.07). Tribune Media had a net margin of 2.49% and a return on equity of 4.38%. The company had revenue of $469.50 million for the quarter, compared to analyst estimates of $472.56 million. During the same quarter in the prior year, the business earned $0.52 EPS. Tribune Media’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Tribune Media will post $1.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. Tribune Media’s dividend payout ratio is presently 204.08%.
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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