Tribune Sees Unusually High Options Volume (TRCO)

Tribune (NYSE:TRCO) was the recipient of some unusual options trading activity on Thursday. Investors bought 3,741 call options on the company. This is an increase of 1,990% compared to the average volume of 179 call options.

TRCO stock opened at $39.89 on Friday. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 28.29 and a beta of 1.06. Tribune has a 12 month low of $31.61 and a 12 month high of $43.71.

Tribune (NYSE:TRCO) last posted its earnings results on Friday, November 9th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The company had revenue of $498.00 million during the quarter, compared to the consensus estimate of $481.79 million. Tribune had a net margin of 31.69% and a return on equity of 7.72%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, equities research analysts predict that Tribune will post 3.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 19th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 16th. Tribune’s dividend payout ratio is 70.92%.

A number of research analysts recently commented on TRCO shares. ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Saturday, November 17th. Gabelli began coverage on shares of Tribune in a research report on Tuesday. They issued a “buy” rating for the company. Finally, FinnCap began coverage on shares of Tribune in a research report on Tuesday. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.00.

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Tribune by 813.2% in the first quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after acquiring an additional 2,651 shares in the last quarter. NumerixS Investment Technologies Inc grew its position in Tribune by 170.1% in the second quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock worth $144,000 after acquiring an additional 2,382 shares in the last quarter. Laurion Capital Management LP bought a new stake in Tribune in the third quarter worth approximately $207,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Tribune in the second quarter worth $230,000. Finally, Standard Life Aberdeen plc acquired a new stake in shares of Tribune in the second quarter worth $267,000. 99.34% of the stock is owned by institutional investors.

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About Tribune

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, MY 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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