Tribune Media Co. (NYSE:TRCO)‘s stock had its “buy” rating reissued by equities researchers at Wells Fargo & Co. in a report issued on Monday.
TRCO has been the topic of a number of other reports. Citigroup Inc. began coverage on shares of Tribune Media in a research report on Wednesday, June 15th. They set a “sell” rating on the stock. Morgan Stanley restated a “sell” rating on shares of Tribune Media in a research note on Thursday, June 2nd. Jefferies Group restated a “hold” rating on shares of Tribune Media in a research note on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.17.
Shares of Tribune Media (NYSE:TRCO) opened at 35.42 on Monday. Tribune Media has a 1-year low of $26.10 and a 1-year high of $42.23. The firm’s market cap is $3.21 billion. The stock has a 50 day moving average of $37.87 and a 200 day moving average of $38.36.
Tribune Media (NYSE:TRCO) last posted its earnings results on Tuesday, August 9th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Tribune Media had a negative net margin of 24.18% and a positive return on equity of 3.67%. The business had revenue of $526.10 million for the quarter, compared to analysts’ expectations of $539.10 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders 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 payout ratio is -18.45%.
In other Tribune Media news, insider Matthew Cherniss sold 11,705 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $38.92, for a total transaction of $455,558.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY raised its stake in Tribune Media by 9.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,571 shares of the company’s stock valued at $101,000 after buying an additional 220 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Tribune Media by 24.4% in the first quarter. Envestnet Asset Management Inc. now owns 3,546 shares of the company’s stock valued at $136,000 after buying an additional 696 shares during the last quarter. M&T Bank Corp acquired a new stake in Tribune Media during the second quarter valued at $213,000. Bayesian Capital Management LP acquired a new stake in Tribune Media during the first quarter valued at $217,000. Finally, BNP Paribas Arbitrage SA raised its stake in Tribune Media by 38.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,969 shares of the company’s stock valued at $273,000 after buying an additional 1,918 shares during the last quarter.
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