Zacks Investment Research Downgrades Tribune Media Company (TRCO) to Strong Sell
Tribune Media Company (NYSE:TRCO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday.
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. “
Several other brokerages also recently commented on TRCO. BidaskClub downgraded shares of Tribune Media from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Jefferies Group LLC restated a “hold” rating and set a $42.00 target price on shares of Tribune Media in a report on Monday, August 14th. Finally, Deutsche Bank AG initiated coverage on shares of Tribune Media in a report on Friday. They set a “hold” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $43.88.
Tribune Media (NYSE:TRCO) opened at 40.73 on Friday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 73.39 and a beta of 1.53. Tribune Media has a 12 month low of $27.75 and a 12 month high of $43.04. The company’s 50-day moving average is $40.49 and its 200-day moving average is $40.04.
Tribune Media (NYSE:TRCO) last announced its earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.07). The company had revenue of $469.50 million for the quarter, compared to analyst estimates of $472.56 million. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. Equities analysts anticipate that Tribune Media will post $1.24 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors acquired a new stake in shares of Tribune Media in the first quarter valued at approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tribune Media by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock valued at $126,000 after purchasing an additional 272 shares during the last quarter. Mizuho Securities USA LLC acquired a new stake in shares of Tribune Media in the second quarter valued at approximately $204,000. Bluefin Trading LLC acquired a new stake in shares of Tribune Media in the second quarter valued at approximately $204,000. Finally, Sei Investments Co. raised its holdings in shares of Tribune Media by 237.1% in the first quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock valued at $200,000 after purchasing an additional 3,777 shares during the last quarter. Institutional investors own 97.12% of the company’s stock.
Tribune Media Company Profile
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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