Analysts Expect Tribune Media Company (TRCO) Will Post Quarterly Sales of $463.69 Million
Equities analysts expect Tribune Media Company (NYSE:TRCO) to announce $463.69 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Tribune Media’s earnings, with the lowest sales estimate coming in at $452.39 million and the highest estimate coming in at $475.00 million. Tribune Media posted sales of $518.07 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The business is expected to issue its next earnings report on Wednesday, November 8th.
On average, analysts expect that Tribune Media will report full year sales of $463.69 million for the current financial year, with estimates ranging from $1.85 billion to $1.89 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.07 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Tribune Media.
Tribune Media (NYSE:TRCO) last announced 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 company 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 company earned $0.52 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis.
A number of brokerages have commented on TRCO. Zacks Investment Research cut Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 target price on shares of Tribune Media in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $44.50.
Several large investors have recently made changes to their positions in TRCO. Nationwide Fund Advisors purchased a new position in shares of Tribune Media during the first quarter valued at approximately $103,000. Wells Fargo & Company MN boosted its position in shares of Tribune Media by 44.3% during the first quarter. Wells Fargo & Company MN now owns 124,077 shares of the company’s stock valued at $4,625,000 after buying an additional 38,109 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Tribune Media during the first quarter valued at approximately $282,000. Bank of New York Mellon Corp boosted its position in shares of Tribune Media by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 455,347 shares of the company’s stock valued at $16,970,000 after buying an additional 17,425 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Tribune Media by 26.5% during the first quarter. UBS Asset Management Americas Inc. now owns 72,080 shares of the company’s stock valued at $2,686,000 after buying an additional 15,087 shares during the last quarter. 97.18% of the stock is currently owned by institutional investors.
Shares of Tribune Media (TRCO) opened at 39.87 on Thursday. Tribune Media has a 52 week low of $27.75 and a 52 week high of $43.04. The company has a market cap of $3.48 billion, a PE ratio of 71.84 and a beta of 1.53. The stock’s 50 day moving average price is $40.53 and its 200-day moving average price is $39.44.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.51%. Tribune Media’s payout ratio is 204.08%.
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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