Zacks: Tribune Publishing Co (NASDAQ:TPCO) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Tribune Publishing Co (NASDAQ:TPCO) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price objective of $18.00 for the company, according to Zacks. Zacks has also given Tribune Publishing an industry rank of 171 out of 256 based on the ratings given to related companies.

A number of analysts have weighed in on TPCO shares. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. TheStreet downgraded Tribune Publishing from a “c-” rating to a “d+” rating in a report on Monday, May 20th. Finally, Noble Financial set a $19.00 price target on Tribune Publishing and gave the company a “buy” rating in a research report on Monday, March 18th.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Tribune Publishing during the 4th quarter worth about $14,563,000. Dimensional Fund Advisors LP acquired a new stake in Tribune Publishing during the 4th quarter worth approximately $11,690,000. Ancora Advisors LLC purchased a new position in shares of Tribune Publishing during the 4th quarter worth approximately $7,999,000. Norges Bank purchased a new position in shares of Tribune Publishing during the 4th quarter worth approximately $4,215,000. Finally, Northern Trust Corp purchased a new position in shares of Tribune Publishing during the 4th quarter worth approximately $2,554,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Shares of NASDAQ TPCO traded up $0.13 during mid-day trading on Friday, hitting $8.27. The stock had a trading volume of 67,700 shares, compared to its average volume of 111,445. The stock has a market capitalization of $292.67 million, a price-to-earnings ratio of 16.08 and a beta of 1.44. The business’s 50 day moving average price is $8.87. Tribune Publishing has a 1 year low of $7.96 and a 1 year high of $18.65. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 0.29.

Tribune Publishing (NASDAQ:TPCO) last issued its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $244.53 million during the quarter, compared to analysts’ expectations of $235.40 million. Tribune Publishing had a return on equity of 2.63% and a net margin of 24.95%. On average, sell-side analysts predict that Tribune Publishing will post 0.38 EPS for the current fiscal year.

The firm also recently declared a special dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th were paid a $1.50 dividend. The ex-dividend date was Tuesday, June 11th.

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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