Shares of Tribune Media Co. (NYSE:TRCO) have been given an average rating of “Hold” by the eight analysts that are covering the firm. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $49.00.
A number of equities research analysts have weighed in on the company. Morgan Stanley lowered Tribune Media from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $39.00 to $36.00 in a research report on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating on shares of Tribune Media in a research report on Thursday, August 25th. Zacks Investment Research raised Tribune Media from a “sell” rating to a “hold” rating in a research report on Saturday, August 20th. Finally, Citigroup Inc. began coverage on Tribune Media in a research report on Wednesday, June 15th. They issued a “sell” rating for the company.
In related news, insider Matthew Cherniss sold 11,705 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $38.92, for a total transaction of $455,558.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Tribune Media by 47.9% in the first quarter. Legal & General Group Plc now owns 7,662 shares of the company’s stock valued at $294,000 after buying an additional 2,482 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Tribune Media during the first quarter valued at $217,000. S. Muoio & CO. LLC acquired a new position in shares of Tribune Media during the first quarter valued at $1,281,000. Renaissance Technologies LLC acquired a new position in shares of Tribune Media during the first quarter valued at $1,810,000. Finally, Geode Capital Management LLC increased its position 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 valued at $20,024,000 after buying an additional 14,924 shares during the period.
Tribune Media (NYSE:TRCO) opened at 35.42 on Monday. Tribune Media has a 12-month low of $26.10 and a 12-month high of $42.23. The company’s market cap is $3.21 billion. The firm has a 50-day moving average price of $37.87 and a 200-day moving average price of $38.36.
Tribune Media (NYSE:TRCO) last issued its earnings results on Tuesday, August 9th. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The business earned $526.10 million during the quarter, compared to analyst estimates of $539.10 million. Tribune Media had a positive return on equity of 3.67% and a negative net margin of 24.18%. Tribune Media’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, analysts forecast that Tribune Media will post $2.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $1.00 annualized dividend and a yield of 2.82%. Tribune Media’s dividend payout ratio (DPR) is -18.45%.
Tribune Media Company Profile
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