Analysts Expect Tribune Media Company (NYSE:TRCO) to Announce $0.43 Earnings Per Share
Wall Street analysts predict that Tribune Media Company (NYSE:TRCO) will announce earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Tribune Media’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.48. Tribune Media posted earnings of $0.42 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.4%. The firm is expected to announce its next earnings results before the market opens on Wednesday, August 9th.
According to Zacks, analysts expect that Tribune Media will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.32 to $1.76. For the next fiscal year, analysts anticipate that the business will post earnings of $2.11 per share, with EPS estimates ranging from $1.97 to $2.19. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Tribune Media.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.14. The company had revenue of $439.90 million during the quarter, compared to the consensus estimate of $450.18 million. Tribune Media had a negative net margin of 4.09% and a positive return on equity of 4.40%. Tribune Media’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS.
Several equities research analysts have recently commented on the stock. Gabelli downgraded shares of Tribune Media from a “buy” rating to a “sell” rating in a research report on Tuesday, May 9th. Morgan Stanley raised shares of Tribune Media from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $37.00 to $43.50 in a research report on Tuesday, May 9th. Jefferies Group LLC reissued a “hold” rating and set a $47.00 target price (up from $36.00) on shares of Tribune Media in a research report on Thursday, May 11th. Zacks Investment Research downgraded shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 13th. Finally, BWS Financial decreased their target price on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.50.
Shares of Tribune Media (TRCO) traded up 0.67% during trading on Friday, hitting $40.80. The stock had a trading volume of 1,741,727 shares. Tribune Media has a 1-year low of $27.75 and a 1-year high of $43.04. The company’s market capitalization is $3.55 billion. The firm has a 50-day moving average of $41.08 and a 200 day moving average of $37.43.
A number of large investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Tribune Media by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 5,948 shares of the company’s stock worth $243,000 after buying an additional 90 shares during the last quarter. Amalgamated Bank increased its stake in shares of Tribune Media by 1.1% in the first quarter. Amalgamated Bank now owns 11,167 shares of the company’s stock worth $416,000 after buying an additional 123 shares during the last quarter. Concert Wealth Management Inc. increased its stake in shares of Tribune Media by 3.8% in the first quarter. Concert Wealth Management Inc. now owns 10,056 shares of the company’s stock worth $348,000 after buying an additional 366 shares during the last quarter. Aperio Group LLC increased its stake in shares of Tribune Media by 6.2% in the second quarter. Aperio Group LLC now owns 8,587 shares of the company’s stock worth $350,000 after buying an additional 503 shares during the last quarter. Finally, Oxbow Advisors LLC increased its stake in shares of Tribune Media by 0.5% in the first quarter. Oxbow Advisors LLC now owns 140,125 shares of the company’s stock worth $5,222,000 after buying an additional 720 shares during the last quarter.
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