Tribune Media Company (NYSE:TRCO) declared a quarterly dividend on Wednesday, August 9th, NASDAQ reports. Investors of record on Monday, August 21st will be paid a dividend of 0.25 per share on Tuesday, September 5th. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 17th.
Tribune Media has a dividend payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tribune Media to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.4%.
Shares of Tribune Media (TRCO) traded down 0.69% during trading on Thursday, reaching $40.31. 520,277 shares of the company traded hands. The company has a 50 day moving average price of $41.17 and a 200 day moving average price of $37.83. Tribune Media has a 12-month low of $27.75 and a 12-month high of $43.04. The firm’s market capitalization is $3.50 billion.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.07. The company had revenue of $469.50 million for the quarter, compared to the consensus estimate of $472.56 million. Tribune Media had a negative net margin of 4.09% and a positive return on equity of 4.40%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts predict that Tribune Media will post $1.39 EPS for the current year.
Several research firms recently commented on TRCO. Jefferies Group LLC reiterated a “hold” rating and set a $42.00 target price on shares of Tribune Media in a research report on Wednesday, June 14th. Morgan Stanley upgraded shares of Tribune Media from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $37.00 to $43.50 in a research report on Tuesday, May 9th. Zacks Investment Research downgraded shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 13th. BWS Financial cut their target price on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. Finally, Wells Fargo & Company downgraded shares of Tribune Media from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Tribune Media presently has an average rating of “Hold” and an average price target of $44.50.
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