Zacks Investment Research downgraded shares of Tribune Publishing (NASDAQ:TPCO) from a strong-buy rating to a hold rating in a research note published on Saturday morning.
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. “
Shares of NASDAQ TPCO traded up $0.36 during midday trading on Friday, hitting $12.05. The stock had a trading volume of 163,601 shares, compared to its average volume of 125,467. The firm has a market capitalization of $403.72 million, a P/E ratio of 11.16 and a beta of 1.78. Tribune Publishing has a 1-year low of $10.82 and a 1-year high of $24.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.22 and a quick ratio of 1.17.
Tribune Publishing (NASDAQ:TPCO) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). The firm had revenue of $255.77 million during the quarter, compared to analyst estimates of $233.80 million. Tribune Publishing had a net margin of 18.92% and a return on equity of 6.90%. On average, equities research analysts expect that Tribune Publishing will post -0.15 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Matarin Capital Management LLC purchased a new stake in shares of Tribune Publishing during the 3rd quarter valued at about $685,000. Bridgeway Capital Management Inc. purchased a new stake in shares of Tribune Publishing during the 3rd quarter valued at about $852,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Tribune Publishing during the 3rd quarter valued at about $2,344,000. 38.42% of the stock is currently owned by institutional investors and hedge funds.
Tribune Publishing Company Profile
Tribune Publishing Company, 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.
Featured Article: Stock Symbols, CUSIP and Other Stock Identifiers
Get a free copy of the Zacks research report on Tribune Publishing (TPCO)
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.