Tribune Media Company (NYSE:TRCO) Expected to Post Quarterly Sales of $470.28 Million
Wall Street brokerages expect Tribune Media Company (NYSE:TRCO) to announce $470.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Tribune Media’s earnings, with estimates ranging from $470.00 million to $470.55 million. Tribune Media posted sales of $526.11 million during the same quarter last year, which suggests a negative year over year growth rate of 10.6%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, August 9th.
On average, analysts expect that Tribune Media will report full year sales of $470.28 million for the current fiscal year, with estimates ranging from $1.87 billion to $1.89 billion. For the next year, analysts anticipate that the business will report sales of $2.05 billion per share, with estimates ranging from $2.03 billion to $2.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Tribune Media.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.07 by $0.14. The business had revenue of $439.90 million for the quarter, compared to analysts’ expectations of $450.18 million. Tribune Media had a positive return on equity of 4.40% and a negative net margin of 4.09%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share.
A number of research analysts have recently commented on TRCO shares. Zacks Investment Research downgraded Tribune Media from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 13th. Morgan Stanley upgraded Tribune Media from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $37.00 to $43.50 in a research report on Tuesday, May 9th. Jefferies Group LLC reiterated 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. Gabelli downgraded Tribune Media from a “buy” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, Wells Fargo & Company downgraded Tribune Media from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Tribune Media currently has an average rating of “Hold” and an average price target of $44.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Princeton Alpha Management LP purchased a new position in Tribune Media during the first quarter worth approximately $585,000. Quantitative Systematic Strategies LLC purchased a new position in Tribune Media during the second quarter worth approximately $1,902,000. Thrivent Financial For Lutherans purchased a new position in Tribune Media during the first quarter worth approximately $9,543,000. Schwab Charles Investment Management Inc. increased its position in Tribune Media by 1.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 294,655 shares of the company’s stock worth $10,982,000 after buying an additional 4,797 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new position in Tribune Media during the second quarter worth approximately $13,658,000.
Tribune Media (NYSE:TRCO) opened at 40.59 on Tuesday. The firm’s 50 day moving average is $41.08 and its 200 day moving average is $37.43. The stock’s market capitalization is $3.53 billion. Tribune Media has a 1-year low of $27.75 and a 1-year high of $43.04.
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