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Principale » OppenheimerFunds Inc. Buys New Position in Tribune Media Company (NYSE:TRCO)

OppenheimerFunds Inc. Buys New Position in Tribune Media Company (NYSE:TRCO)

09 Août 2017

Wall Street brokerages expect Tribune Media Company (NYSE:TRCO) to announce $470.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Goldman Sachs Group Inc. owned 0.26% of Tribune Media worth $8,466,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Nationwide Fund Advisors acquired a new stake in Tribune Media during the first quarter worth $103,000. Creative Planning raised its stake in Tribune Media by 150.0% in the first quarter. Ltd. acquired a new position in Tribune Media during the first quarter worth about $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tribune Media by 9.6% in the second quarter. As of December 31, 2016, the Company consisted of 42 local television stations that were either owned by the Company or owned by others but to which it provides certain services, along with a national general entertainment cable network, a radio station, a production studio, a portfolio of real estate assets and investments in a range of media, Websites and other related assets. LLC purchased a new position in Tribune Media during the second quarter worth approximately $13,658,000.

Shares of Tribune Media Company (NYSE TRCO) opened at 40.59 on Tuesday.

Tribune Media Company is a diversified media and entertainment business. The firm has a 50-day moving average price of $41.08 and a 200 day moving average price of $37.43. The company has market cap of $3.55 billion.

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Tribune Media (NYSE:TRCO) last announced its earnings results on Wednesday, May 10th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.07 by $0.14. The business had revenue of $439.90 million during the quarter, compared to the consensus estimate of $450.18 million. Tribune Media had a positive return on equity of 4.40% and a negative net margin of 4.09%. The firm's quarterly revenue was down 6.1% compared to the same quarter a year ago. During the same period in the previous year, the company posted $0.22 EPS. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and worldwide trademark & copyright law. If you are reading this news story on another site, it was illegally stolen and reposted in violation of USA and global trademark & copyright legislation. The legal version of this article can be accessed at

TRCO has been the subject of several research reports. The stock of Tribune Media Co (NYSE:TRCO) earned "Buy" rating by Gabelli on Monday, December 14. Morgan Stanley upgraded Tribune Media from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $37.00 to $43.50 in a research report on Tuesday, May 9th. Jefferies maintained Tribune Media Co (NYSE:TRCO) rating on Monday, June 12. Wells Fargo & Company cut shares of Tribune Media from an "outperform" rating to a "market perform" rating in a report on Thursday, April 20th. Gabelli lowered Tribune Media from a "buy" rating to a "sell" rating in a research report on Tuesday, May 9th.

A number of equities research analysts have weighed in on the stock. Tribune Media now has an average rating of "Hold" and an average price target of $44.50.