Tribune Publishing (NASDAQ:TPCO) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Tribune Publishing Company is a media company. It offers sports, entertainment, business, real estate and travel news and information primarily in the United States. The company operates local media businesses with titles including the Chicago Tribune, New York Daily News, The Baltimore Sun, Orlando Sentinel, South Florida’s Sun-Sentinel, Virginia’s Daily Press and The Virginian-Pilot, The Morning Call of Lehigh Valley, Pennsylvania, and the Hartford Courant. Tribune Publishing Company, formerly known as Tronc, Inc., is headquartered in Chicago, Illinois. “
Other equities research analysts have also recently issued research reports about the company. Huber Research cut Tribune Publishing from an overweight rating to a sell rating and set a $9.00 target price for the company. in a research note on Thursday, May 28th. BidaskClub raised Tribune Publishing from a sell rating to a hold rating in a research note on Saturday, May 9th. ValuEngine raised Tribune Publishing from a hold rating to a buy rating in a research note on Wednesday, June 3rd. Finally, Noble Financial reissued a buy rating and set a $14.00 target price on shares of Tribune Publishing in a research note on Monday, June 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $11.50.
Tribune Publishing (NASDAQ:TPCO) last posted its quarterly earnings results on Friday, June 5th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.92). Tribune Publishing had a negative net margin of 6.34% and a negative return on equity of 12.30%. The company had revenue of $216.49 million during the quarter, compared to analyst estimates of $208.80 million. As a group, analysts predict that Tribune Publishing will post -1.07 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TPCO. California Public Employees Retirement System purchased a new position in shares of Tribune Publishing during the fourth quarter worth $217,000. Swiss National Bank boosted its position in shares of Tribune Publishing by 5.5% during the fourth quarter. Swiss National Bank now owns 30,781 shares of the company’s stock worth $405,000 after buying an additional 1,600 shares during the period. Sei Investments Co. boosted its position in shares of Tribune Publishing by 4.0% during the fourth quarter. Sei Investments Co. now owns 55,190 shares of the company’s stock worth $726,000 after buying an additional 2,145 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tribune Publishing by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 109,346 shares of the company’s stock worth $1,439,000 after buying an additional 3,765 shares during the period. Finally, Barclays PLC boosted its position in shares of Tribune Publishing by 95.4% during the fourth quarter. Barclays PLC now owns 17,847 shares of the company’s stock worth $234,000 after buying an additional 8,715 shares during the period. Institutional investors and hedge funds own 61.25% of the company’s stock.
About Tribune Publishing
Tribune Publishing Company, a media company, publishes newspapers worldwide. The company operates in two segments, M and X. 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.
Featured Article: The Role of a Fiduciary and Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tribune Publishing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tribune Publishing and related companies with MarketBeat.com's FREE daily email newsletter.