Zacks Investment Research lowered shares of tronc (NASDAQ:TRNC) from a hold rating to a sell rating in a report issued on Thursday morning.
According to Zacks, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States. “
A number of other brokerages have also commented on TRNC. BidaskClub raised shares of tronc from a hold rating to a buy rating in a report on Wednesday, April 18th. Noble Financial set a $21.00 price objective on shares of tronc and gave the company a buy rating in a research note on Sunday, July 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $21.33.
Shares of NASDAQ:TRNC opened at $17.04 on Thursday. The firm has a market capitalization of $627.94 million, a PE ratio of 15.78 and a beta of 1.78. tronc has a one year low of $12.78 and a one year high of $24.74. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.33 and a current ratio of 1.38.
tronc (NASDAQ:TRNC) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.51). The company had revenue of $253.04 million during the quarter. tronc had a return on equity of 17.43% and a net margin of 18.03%. research analysts expect that tronc will post 0.39 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of tronc by 56.9% in the 1st quarter. Millennium Management LLC now owns 327,879 shares of the company’s stock valued at $5,384,000 after purchasing an additional 118,857 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of tronc by 180.4% in the 4th quarter. Two Sigma Advisers LP now owns 28,600 shares of the company’s stock valued at $503,000 after purchasing an additional 18,400 shares in the last quarter. Northern Trust Corp boosted its stake in shares of tronc by 1.5% in the 1st quarter. Northern Trust Corp now owns 235,716 shares of the company’s stock valued at $3,871,000 after purchasing an additional 3,540 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in shares of tronc by 59.3% in the 1st quarter. Alambic Investment Management L.P. now owns 176,933 shares of the company’s stock valued at $2,905,000 after purchasing an additional 65,849 shares in the last quarter. Finally, Spark Investment Management LLC boosted its stake in shares of tronc by 11.9% in the 1st quarter. Spark Investment Management LLC now owns 127,500 shares of the company’s stock valued at $2,093,000 after purchasing an additional 13,600 shares in the last quarter. 40.05% of the stock is owned by institutional investors.
tronc Company Profile
tronc, Inc, a media company, publishes newspapers worldwide. The company operates in two segments, troncM and troncX. It publishes daily newspapers; weekly newspapers; and digital platforms, such as Websites and mobile applications. The company also provides various digital marketing services, which include the development of mobile Websites, search engine marketing and optimization, social media account management, and content marketing for its customers' Web presence for small to medium size businesses.
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