Tribune (NYSE:TRCO) was the target of unusually large options trading activity on Thursday. Traders acquired 4,072 put options on the stock. This is an increase of approximately 5,329% compared to the typical daily volume of 75 put options.
Shares of NYSE:TRCO opened at $39.89 on Friday. Tribune has a 12 month low of $31.61 and a 12 month high of $43.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.35 and a current ratio of 3.35. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 28.29 and a beta of 1.06.
Tribune (NYSE:TRCO) last issued its quarterly earnings data on Friday, November 9th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Tribune had a net margin of 31.69% and a return on equity of 7.72%. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $481.79 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Analysts expect that Tribune will post 3.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, November 16th. Tribune’s dividend payout ratio is currently 70.92%.
TRCO has been the topic of several analyst reports. ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a 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 on the stock in a report on Saturday, November 17th. Gabelli initiated coverage on shares of Tribune in a report on Tuesday. They issued a “buy” rating on the stock. Finally, FinnCap started coverage on shares of Tribune in a report on Tuesday. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $40.00.
A number of large investors have recently modified their holdings of TRCO. Royal Bank of Canada lifted its position in Tribune by 813.2% during the 1st quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock valued at $121,000 after purchasing an additional 2,651 shares during the period. NumerixS Investment Technologies Inc lifted its position in Tribune by 170.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock valued at $144,000 after purchasing an additional 2,382 shares during the period. Laurion Capital Management LP acquired a new position in Tribune during the 3rd quarter valued at about $207,000. NJ State Employees Deferred Compensation Plan acquired a new position in Tribune during the 2nd quarter valued at about $230,000. Finally, Standard Life Aberdeen plc acquired a new position in Tribune during the 2nd quarter valued at about $267,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
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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