Tribune Publishing (TPCO) Rating Increased to Hold at Zacks Investment Research

Tribune Publishing (NASDAQ:TPCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on TPCO. Noble Financial set a $19.00 price target on shares of Tribune Publishing and gave the stock a “buy” rating in a research report on Monday, March 18th. TheStreet cut shares of Tribune Publishing from a “c-” rating to a “d+” rating in a research report on Monday, May 20th.

NASDAQ TPCO opened at $9.82 on Thursday. Tribune Publishing has a 12 month low of $9.52 and a 12 month high of $18.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.16 and a current ratio of 1.21. The stock has a market capitalization of $341.21 million, a price-to-earnings ratio of 18.75 and a beta of 1.59.

Tribune Publishing (NASDAQ:TPCO) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The business had revenue of $244.53 million for the quarter, compared to analyst estimates of $235.40 million. Tribune Publishing had a return on equity of 2.63% and a net margin of 24.95%. As a group, analysts predict that Tribune Publishing will post 0.16 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in Tribune Publishing in the fourth quarter worth $355,000. Strs Ohio bought a new stake in Tribune Publishing in the fourth quarter worth $478,000. Oppenheimer Asset Management Inc. bought a new stake in Tribune Publishing in the fourth quarter worth $118,000. Teton Advisors Inc. bought a new stake in Tribune Publishing in the fourth quarter worth $307,000. Finally, Rhumbline Advisers bought a new stake in Tribune Publishing in the fourth quarter worth $254,000. 39.16% 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, 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.

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