Tribune Media Co (NYSE:TRCO) was downgraded by equities researchers at Gabelli from a “buy” rating to a “sell” rating in a report issued on Tuesday, May 9th.
TRCO has been the topic of a number of other reports. BWS Financial cut their price objective on Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Zacks Investment Research lowered Tribune Media from a “hold” rating to a “sell” rating in a research note on Saturday, January 28th. Jefferies Group LLC cut their price objective on Tribune Media from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, January 26th. Finally, Wells Fargo & Co lowered Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $46.17.
Shares of Tribune Media (NYSE:TRCO) traded up 0.85% during trading on Tuesday, hitting $40.23. 586,274 shares of the company were exchanged. Tribune Media has a 12 month low of $27.75 and a 12 month high of $43.04. The stock’s market cap is $3.50 billion. The company’s 50-day moving average price is $38.64 and its 200 day moving average price is $35.09.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.14. The company had revenue of $439.90 million during the quarter, compared to analyst estimates of $450.18 million. Tribune Media had a positive return on equity of 4.27% and a negative net margin of 18.26%. Tribune Media’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts predict that Tribune Media will post $1.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Monday, May 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, May 18th. Tribune Media’s dividend payout ratio (DPR) is presently -24.39%.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Tribune Media by 10,758.5% in the first quarter. BlackRock Inc. now owns 3,059,287 shares of the company’s stock valued at $114,020,000 after buying an additional 3,031,113 shares during the period. Morgan Stanley raised its position in shares of Tribune Media by 181.2% in the third quarter. Morgan Stanley now owns 2,267,633 shares of the company’s stock valued at $82,814,000 after buying an additional 1,461,200 shares during the period. Canyon Capital Advisors LLC acquired a new position in shares of Tribune Media during the first quarter valued at about $51,808,000. Norges Bank acquired a new position in shares of Tribune Media during the fourth quarter valued at about $46,811,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Tribune Media during the first quarter valued at about $32,630,000.
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