Tribune Media Co (TRCO) Expected to Post Quarterly Sales of $489.17 Million

Equities research analysts forecast that Tribune Media Co (NYSE:TRCO) will announce sales of $489.17 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Tribune Media’s earnings, with the highest sales estimate coming in at $495.02 million and the lowest estimate coming in at $484.00 million. Tribune Media reported sales of $529.62 million during the same quarter last year, which would indicate a negative year over year growth rate of 7.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, March 7th.

On average, analysts expect that Tribune Media will report full-year sales of $489.17 million for the current fiscal year, with estimates ranging from $1.85 billion to $1.86 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.01 billion per share, with estimates ranging from $1.97 billion to $2.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Tribune Media.

Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.06). Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. The business had revenue of $450.53 million during the quarter, compared to the consensus estimate of $459.81 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year.

Several analysts recently weighed in on TRCO shares. Zacks Investment Research upgraded shares of Tribune Media from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 15th. BidaskClub upgraded shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Deutsche Bank started coverage on shares of Tribune Media in a research report on Friday, October 20th. They issued a “hold” rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.88.

Tribune Media (TRCO) traded up $0.13 during trading on Friday, hitting $42.53. 432,635 shares of the stock were exchanged, compared to its average volume of 1,438,739. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.76 and a current ratio of 1.76. 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 $3,710.00, a P/E ratio of 29.35, a P/E/G ratio of 12.78 and a beta of 1.73.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th were paid a $0.25 dividend. The ex-dividend date was Friday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. Tribune Media’s dividend payout ratio is currently -144.93%.

In other news, insider Tribune L.P. Oaktree sold 7,000,000 shares of Tribune Media stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $40.36, for a total value of $282,520,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its holdings in shares of Tribune Media by 1.5% during the second quarter. Teacher Retirement System of Texas now owns 5,948 shares of the company’s stock worth $243,000 after purchasing an additional 90 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tribune Media by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,097 shares of the company’s stock worth $126,000 after purchasing an additional 272 shares during the period. Aperio Group LLC boosted its holdings in shares of Tribune Media by 6.2% during the second quarter. Aperio Group LLC now owns 8,587 shares of the company’s stock worth $350,000 after purchasing an additional 503 shares during the period. Hosking Partners LLP boosted its holdings in shares of Tribune Media by 0.5% during the third quarter. Hosking Partners LLP now owns 283,878 shares of the company’s stock worth $11,599,000 after purchasing an additional 1,340 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Tribune Media by 16.5% during the third quarter. Jane Street Group LLC now owns 9,823 shares of the company’s stock worth $401,000 after purchasing an additional 1,389 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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About Tribune Media

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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