Tribune Media Company (TRCO) Expected to Post Quarterly Sales of $463.69 Million
Wall Street analysts predict that Tribune Media Company (NYSE:TRCO) will report sales of $463.69 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Tribune Media’s earnings, with the highest sales estimate coming in at $475.00 million and the lowest estimate coming in at $452.39 million. Tribune Media reported sales of $518.07 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Tribune Media will report full year sales of $463.69 million for the current year, with estimates ranging from $1.85 billion to $1.89 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.07 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Tribune Media.
Tribune Media (NYSE:TRCO) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.07. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The firm had revenue of $469.50 million for the quarter, compared to the consensus estimate of $472.56 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was down 2.1% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. BWS Financial dropped their price target 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. Jefferies Group LLC reiterated a “hold” rating and issued a $42.00 price target on shares of Tribune Media in a research report on Wednesday, June 14th. Gabelli lowered shares of Tribune Media from a “buy” rating to a “sell” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Morgan Stanley upgraded shares of Tribune Media from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $37.00 to $43.50 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.50.
Shares of Tribune Media (TRCO) opened at 40.02 on Friday. The stock’s 50 day moving average price is $40.91 and its 200-day moving average price is $38.73. Tribune Media has a one year low of $27.75 and a one year high of $43.04. The company has a market cap of $3.49 billion, a PE ratio of 72.11 and a beta of 1.52.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. Tribune Media’s payout ratio is currently 204.08%.
Institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors purchased a new position in Tribune Media during the first quarter worth $103,000. Creative Planning raised its position in Tribune Media by 150.0% in the first quarter. Creative Planning now owns 3,000 shares of the company’s stock worth $112,000 after buying an additional 1,800 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in Tribune Media during the first quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tribune Media by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after buying an additional 272 shares during the last quarter. Finally, Sei Investments Co. raised its position in Tribune Media by 237.1% in the first quarter. Sei Investments Co. now owns 5,370 shares of the company’s stock worth $200,000 after buying an additional 3,777 shares during the last quarter.
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, 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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