Equities analysts predict that Tribune Media (NYSE:TRCO) will report sales of $457.76 million for the current quarter, according to Zacks. Three analysts have provided estimates for Tribune Media’s earnings. The highest sales estimate is $463.28 million and the lowest is $451.00 million. Tribune Media reported sales of $439.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is scheduled to issue its next earnings results on Wednesday, May 9th.
According to Zacks, analysts expect that Tribune Media will report full year sales of $1.98 billion for the current year, with estimates ranging from $1.97 billion to $2.00 billion. For the next financial year, analysts expect that the business will report sales of $2.03 billion per share, with estimates ranging from $1.95 billion to $2.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Tribune Media.
Tribune Media (NYSE:TRCO) last released its quarterly earnings results on Thursday, March 1st. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.31. Tribune Media had a return on equity of 4.13% and a net margin of 10.50%. The business had revenue of $489.00 million during the quarter, compared to analysts’ expectations of $488.13 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year.
Separately, Zacks Investment Research raised Tribune Media from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Tribune Media currently has an average rating of “Hold” and an average price target of $44.10.
TRCO stock traded up $0.50 on Friday, reaching $40.83. 1,078,878 shares of the company’s stock were exchanged, compared to its average volume of 862,978. Tribune Media has a twelve month low of $36.18 and a twelve month high of $43.71. The firm has a market capitalization of $3,494.51, a PE ratio of 28.60, a P/E/G ratio of 9.86 and a beta of 1.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.98 and a quick ratio of 1.98.
The company also recently announced a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Monday, March 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date was Friday, March 9th. Tribune Media’s dividend payout ratio (DPR) is 70.92%.
A number of institutional investors have recently bought and sold shares of the business. Pentwater Capital Management LP grew its holdings in Tribune Media by 15.1% in the fourth quarter. Pentwater Capital Management LP now owns 4,450,113 shares of the company’s stock valued at $188,996,000 after purchasing an additional 584,720 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $165,993,000 after purchasing an additional 1,287,556 shares during the last quarter. BlackRock Inc. grew its holdings in Tribune Media by 4.7% in the fourth quarter. BlackRock Inc. now owns 3,121,226 shares of the company’s stock valued at $132,559,000 after purchasing an additional 139,873 shares during the last quarter. Manikay Partners LLC grew its holdings in Tribune Media by 110.9% in the fourth quarter. Manikay Partners LLC now owns 1,915,000 shares of the company’s stock valued at $81,330,000 after purchasing an additional 1,006,862 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in Tribune Media by 24.9% in the fourth quarter. Citadel Advisors LLC now owns 1,847,628 shares of the company’s stock valued at $78,469,000 after purchasing an additional 368,442 shares during the last quarter. 87.90% of the stock is currently owned by institutional investors.
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About Tribune Media
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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