Brokerages expect Tribune Media (NYSE:TRCO) to report $484.65 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Tribune Media’s earnings, with the lowest sales estimate coming in at $479.00 million and the highest estimate coming in at $495.35 million. Tribune Media reported sales of $469.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 8th.
On average, analysts expect that Tribune Media will report full year sales of $1.94 billion for the current fiscal year, with estimates ranging from $1.93 billion to $1.95 billion. For the next financial year, analysts anticipate that the business will post sales of $1.96 billion per share, with estimates ranging from $1.90 billion to $2.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Tribune Media.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Thursday, May 10th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.39. Tribune Media had a return on equity of 5.64% and a net margin of 22.72%. The business had revenue of $443.64 million during the quarter, compared to the consensus estimate of $456.85 million. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year.
Several research firms have weighed in on TRCO. ValuEngine downgraded Tribune Media from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Tribune Media from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, May 8th. Finally, Deutsche Bank upgraded Tribune Media from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Monday, May 7th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.67.
Tribune Media traded down $0.72, hitting $37.24, during midday trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 21,532 shares, compared to its average volume of 1,152,348. Tribune Media has a 12 month low of $34.81 and a 12 month high of $43.71. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.07 and a quick ratio of 3.07. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 7.30 and a beta of 1.33.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Monday, May 21st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.69%. Tribune Media’s dividend payout ratio is currently 70.92%.
Several hedge funds and other institutional investors have recently bought and sold shares of TRCO. Natixis lifted its position in Tribune Media by 457.4% in the first quarter. Natixis now owns 2,177,747 shares of the company’s stock worth $88,221,000 after buying an additional 1,787,080 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Tribune Media by 49.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,908,497 shares of the company’s stock worth $165,993,000 after buying an additional 1,287,556 shares during the last quarter. Manikay Partners LLC lifted its position in Tribune Media by 110.9% in the fourth quarter. Manikay Partners LLC now owns 1,915,000 shares of the company’s stock worth $81,330,000 after buying an additional 1,006,862 shares during the last quarter. Halcyon Management Partners LP lifted its position in Tribune Media by 349.3% in the fourth quarter. Halcyon Management Partners LP now owns 1,292,214 shares of the company’s stock worth $54,881,000 after buying an additional 1,004,598 shares during the last quarter. Finally, Water Island Capital LLC lifted its position in Tribune Media by 44.8% in the first quarter. Water Island Capital LLC now owns 2,454,958 shares of the company’s stock worth $99,450,000 after buying an additional 760,127 shares during the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.
Tribune Media Company Profile
Tribune Media Company, through its subsidiaries, operates as a media and entertainment company in the United States. It offers news, entertainment, and sports programming through Tribune Broadcasting local television stations, including FOX television affiliates, CW Network, LLC television affiliates, CBS television affiliates, ABC television affiliates, MY television affiliates, NBC television affiliates, and independent television stations; and television series and movies on WGN America, a national general entertainment cable network.
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