Zacks: Tribune Publishing Co (NASDAQ:TPCO) Given $18.00 Consensus Price Target by Analysts

Tribune Publishing Co (NASDAQ:TPCO) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus target price of $18.00 for the company and are anticipating that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given Tribune Publishing an industry rank of 109 out of 255 based on the ratings given to related companies.

Separately, TheStreet upgraded Tribune Publishing from a “d+” rating to a “c” rating in a report on Friday, November 29th.

In related news, major shareholder Michael W. Ferro, Jr. sold 23,741 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $13.00, for a total transaction of $308,633.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alden Global Capital Llc acquired 793,801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $12.58 per share, with a total value of $9,986,016.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,176,859 shares of company stock valued at $14,581,729. 2.20% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Tribune Publishing during the third quarter worth $63,000. Prudential Financial Inc. purchased a new stake in shares of Tribune Publishing during the second quarter worth $98,000. A.R.T. Advisors LLC purchased a new stake in shares of Tribune Publishing during the second quarter worth $106,000. Zebra Capital Management LLC purchased a new stake in shares of Tribune Publishing during the second quarter worth $113,000. Finally, AXA purchased a new stake in shares of Tribune Publishing during the second quarter worth $119,000. Institutional investors and hedge funds own 35.20% of the company’s stock.

Shares of Tribune Publishing stock traded up $0.23 during midday trading on Wednesday, hitting $12.93. The company’s stock had a trading volume of 85,221 shares, compared to its average volume of 66,989. The stock has a 50-day simple moving average of $12.85 and a 200-day simple moving average of $9.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 1.01. Tribune Publishing has a 1-year low of $7.00 and a 1-year high of $13.86.

Tribune Publishing (NASDAQ:TPCO) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.42). The business had revenue of $236.03 million during the quarter, compared to analyst estimates of $227.90 million. Tribune Publishing had a positive return on equity of 1.03% and a negative net margin of 2.12%. On average, sell-side analysts anticipate that Tribune Publishing will post 0.43 EPS for the current fiscal year.

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.

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