Tribune Media Co (TRCO) is Downgraded by Morgan Stanley to Underweight

Tribune Media Co (TRCO) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 1, 2016.

On the company’s financial health, Tribune Media Co reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $0.27. The company had revenue of $520.50 million for the quarter, compared to analysts expectations of $502.09 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Tribune Media Co opened for trading at $40.17 and hit $40.5799 on the upside on Friday, eventually ending the session at $40.21, with a gain of 0.30% or 0.12 points. The heightened volatility saw the trading volume jump to 1,67,706 shares. Company has a market cap of $3,700 M.

In a different news, on Mar 15, 2016, Matthew Cherniss (Pres. and Gen. Mgr., WGN Amer.) sold 1,535 shares at $38.77 per share price. According to the SEC, on Mar 7, 2016, Melanie Hughes (EVP, Human Resources) sold 7,298 shares at $39.15 per share price.

Tribune Media Company is a diversified media and entertainment business. The Company consists of 42 television stations to which it provides certain services along with a national general entertainment television network a radio station a production studio a digital and data technology business a portfolio of real estate assets and investments in a variety of media Websites and other related assets. The Company operates in the following segments: Television and Entertainment which provides audiences with news entertainment and sports programming on Tribune Broadcasting local television stations and television series and movies on WGN America including through content produced by Tribune Studios and its production partners and Digital and Data which provides technology and services that collect and distribute video music and entertainment data primarily through wholesale distribution channels to consumers across the world.

Tribune Media Co

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