Wolfe Research started coverage on shares of Tribune (NYSE:TRCO) in a research report sent to investors on Friday, The Fly reports. The firm issued an underperform rating and a $44.00 target price on the stock.
A number of other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Tribune from a sell rating to a hold rating in a report on Saturday, December 1st. Zacks Investment Research cut shares of Tribune from a buy rating to a hold rating in a report on Friday, November 30th. FinnCap initiated coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a buy rating for the company. Finally, Gabelli initiated coverage on shares of Tribune in a research note on Tuesday, November 27th. They issued a buy rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Tribune has a consensus rating of Hold and an average price target of $40.67.
NYSE:TRCO traded up $0.04 during trading hours on Friday, reaching $44.99. 5,179,741 shares of the company’s stock were exchanged, compared to its average volume of 3,926,769. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.44 and a beta of 1.03. Tribune has a 12 month low of $31.61 and a 12 month high of $45.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.35 and a current ratio of 3.35.
Tribune (NYSE:TRCO) last issued its earnings results on Friday, November 9th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The firm had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $481.79 million. Tribune had a net margin of 31.69% and a return on equity of 7.72%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that Tribune will post 3.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Monday, November 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, November 16th. Tribune’s dividend payout ratio is 70.92%.
A number of institutional investors have recently bought and sold shares of TRCO. Baupost Group LLC MA boosted its stake in Tribune by 100.1% in the 3rd quarter. Baupost Group LLC MA now owns 5,996,042 shares of the company’s stock worth $230,428,000 after purchasing an additional 3,000,000 shares during the period. Soros Fund Management LLC acquired a new position in Tribune in the 3rd quarter worth approximately $61,488,000. Prudential Financial Inc. acquired a new position in Tribune in the 3rd quarter worth approximately $60,019,000. Citadel Advisors LLC acquired a new position in Tribune in the 3rd quarter worth approximately $42,445,000. Finally, Natixis boosted its stake in Tribune by 48.6% in the 2nd quarter. Natixis now owns 3,235,795 shares of the company’s stock worth $123,834,000 after purchasing an additional 1,058,048 shares during the period. 93.71% of the stock is owned by hedge funds and other institutional investors.
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, MY 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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