Tribune Media Co. (NYSE:TRCO)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group in a report released on Thursday. They presently have a $38.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 2.65% from the company’s current price.
The analysts wrote, “TRCO closed the sale of its Tribune Tower, LA Times Square, and Olympic Plant properties this week.””
TRCO has been the topic of several other reports. Citigroup Inc. began coverage on Tribune Media in a report on Wednesday, June 15th. They set a “sell” rating on the stock. Wells Fargo & Co. restated a “buy” rating on shares of Tribune Media in a report on Monday. Morgan Stanley restated a “sell” rating on shares of Tribune Media in a report on Thursday, June 2nd. Finally, Zacks Investment Research upgraded Tribune Media from a “sell” rating to a “hold” rating in a report on Saturday, August 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.17.
Shares of Tribune Media (NYSE:TRCO) opened at 37.02 on Thursday. Tribune Media has a one year low of $26.10 and a one year high of $42.23. The company’s 50 day moving average price is $37.74 and its 200 day moving average price is $38.31. The firm’s market capitalization is $3.35 billion.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Tribune Media had a positive return on equity of 3.67% and a negative net margin of 24.18%. The company had revenue of $526.10 million for the quarter, compared to the consensus estimate of $539.10 million. During the same period in the previous year, the business earned ($0.04) EPS. Tribune Media’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Tribune Media will post $2.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, August 17th. Tribune Media’s dividend payout ratio is currently -18.45%.
In related news, insider Matthew Cherniss sold 11,705 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was 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 SEC, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Omega Advisors Inc. raised its stake in shares of Tribune Media by 7.6% in the first quarter. Omega Advisors Inc. now owns 3,970,628 shares of the company’s stock valued at $152,274,000 after buying an additional 281,033 shares in the last quarter. Barington Capital Group L.P. raised its stake in shares of 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. Aperio Group LLC bought a new stake in shares of Tribune Media during the first quarter valued at $380,000. Geode Capital Management LLC raised 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 valued at $20,024,000 after buying an additional 14,924 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Tribune Media during the first quarter valued at $2,956,000.
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