$470.28 Million in Sales Expected for Tribune Media Co (TRCO) This Quarter
Equities analysts expect Tribune Media Co (NYSE:TRCO) to post sales of $470.28 million for the current quarter, Zacks reports. Two analysts have provided estimates for Tribune Media’s earnings. The lowest sales estimate is $470 million and the highest is $470.55 million. Tribune Media reported sales of $526.11 million in the same quarter last year, which would suggest a negative year over year growth rate of 10.6%. The business is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Tribune Media will report full-year sales of $470.28 million for the current financial year, with estimates ranging from $1.87 billion to $1.91 billion. For the next year, analysts anticipate that the business will report sales of $2.06 billion per share, with estimates ranging from $2.03 billion to $2.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Tribune Media.
Tribune Media (NYSE:TRCO) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.14. Tribune Media had a positive return on equity of 4.27% and a negative net margin of 18.26%. The firm had revenue of $439.90 million during the quarter, compared to analyst estimates of $450.18 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue was down 6.1% on a year-over-year basis.
A number of analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and set a $47.00 price target (up from $36.00) on shares of Tribune Media in a research note on Thursday, May 11th. Morgan Stanley raised Tribune Media from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $37.00 to $43.50 in a research note on Tuesday, May 9th. Gabelli lowered Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. BWS Financial cut their price target on Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Finally, Wells Fargo & Co lowered Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $46.17.
Tribune Media (NYSE:TRCO) traded up 0.36% during mid-day trading on Friday, hitting $38.84. 827,569 shares of the company were exchanged. Tribune Media has a 12-month low of $27.75 and a 12-month high of $43.04. The company’s market cap is $3.38 billion. The stock’s 50 day moving average is $38.95 and its 200-day moving average is $35.44.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Monday, May 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, May 18th. Tribune Media’s payout ratio is -24.39%.
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Several hedge funds have recently made changes to their positions in TRCO. Goldman Sachs Group Inc. raised its stake in shares of Tribune Media by 9.6% in the first quarter. Goldman Sachs Group Inc. now owns 227,143 shares of the company’s stock worth $8,466,000 after buying an additional 19,909 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Tribune Media during the first quarter worth approximately $1,086,000. HighTower Advisors LLC raised its stake in shares of Tribune Media by 36.2% in the first quarter. HighTower Advisors LLC now owns 66,029 shares of the company’s stock worth $2,460,000 after buying an additional 17,555 shares during the last quarter. Credit Suisse AG raised its stake in shares of Tribune Media by 115.5% in the first quarter. Credit Suisse AG now owns 124,494 shares of the company’s stock worth $4,640,000 after buying an additional 66,721 shares during the last quarter. Finally, Canyon Capital Advisors LLC purchased a new stake in shares of Tribune Media during the first quarter worth approximately $51,808,000.
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