Wall Street analysts expect Tribune Media Company (NYSE:TRCO) to announce $463.69 million in sales for the current fiscal quarter, according to Zacks. 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 in the same quarter last year, which suggests a negative year-over-year growth rate of 10.5%. The firm is expected to issue its next earnings results 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 year, analysts forecast that the business will report sales of $2.05 billion per share, with estimates ranging from $2.02 billion to $2.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Tribune Media.
Tribune Media (NYSE:TRCO) last posted its earnings results 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 net margin of 2.49% and a return on equity of 4.38%. The firm had revenue of $469.50 million during the quarter, compared to the consensus estimate of $472.56 million. During the same quarter last year, the firm posted $0.52 EPS. The business’s revenue was down 2.1% on a year-over-year basis.
TRCO has been the subject of several recent analyst reports. BWS Financial reduced their price objective on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, May 1st. Gabelli cut shares of Tribune Media from a “buy” rating to a “sell” rating in a research note on Tuesday, May 9th. Morgan Stanley raised shares of Tribune Media from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $37.00 to $43.50 in a research note on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $47.00 price objective (up previously from $36.00) on shares of Tribune Media in a research note on Thursday, May 11th. Finally, Zacks Investment Research cut shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.50.
A number of institutional investors have recently added to or reduced their stakes in the company. Bluefin Trading LLC bought a new position in Tribune Media during the second quarter worth approximately $204,000. PointState Capital LP bought a new position in Tribune Media during the second quarter worth approximately $2,446,000. York Capital Management Global Advisors LLC boosted its position in Tribune Media by 208.4% in the second quarter. York Capital Management Global Advisors LLC now owns 1,549,379 shares of the company’s stock worth $63,168,000 after buying an additional 1,047,037 shares in the last quarter. Pentwater Capital Management LP bought a new position in Tribune Media during the second quarter worth approximately $228,312,000. Finally, Gotham Asset Management LLC boosted its position in Tribune Media by 161.0% in the second quarter. Gotham Asset Management LLC now owns 26,524 shares of the company’s stock worth $1,081,000 after buying an additional 16,363 shares in the last quarter. 97.18% of the stock is owned by institutional investors and hedge funds.
Tribune Media (NYSE TRCO) traded down 0.35% on Friday, hitting $39.86. 553,309 shares of the stock were exchanged. The company has a 50-day moving average price of $40.91 and a 200 day moving average price of $38.73. Tribune Media has a 1-year low of $27.75 and a 1-year high of $43.04. The company has a market capitalization of $3.48 billion, a PE ratio of 71.82 and a beta of 1.52.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid 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 yield of 2.51%. Tribune Media’s dividend payout ratio is presently 204.08%.
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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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