Tribune Media (TRCO) Expected to Announce Earnings of $0.08 Per Share

Wall Street brokerages expect that Tribune Media (NYSE:TRCO) will announce earnings of $0.08 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Tribune Media’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at ($0.04). Tribune Media reported earnings per share of ($0.07) during the same quarter last year, which indicates a positive year-over-year growth rate of 214.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Tribune Media will report full-year earnings of $2.03 per share for the current fiscal year, with EPS estimates ranging from $1.76 to $2.54. For the next financial year, analysts expect that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.54 to $2.39. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Tribune Media.

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Tribune Media (NYSE:TRCO) last posted its quarterly earnings data on Thursday, March 1st. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. Tribune Media had a return on equity of 4.13% and a net margin of 10.50%. The company had revenue of $489.00 million during the quarter, compared to analysts’ expectations of $488.13 million. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis.

Separately, Zacks Investment Research raised Tribune Media from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Tribune Media currently has an average rating of “Hold” and a consensus price target of $44.10.

Shares of TRCO stock opened at $40.18 on Thursday. The company has a market cap of $3,486.64, a PE ratio of 28.26, a price-to-earnings-growth ratio of 9.84 and a beta of 1.32. Tribune Media has a 12-month low of $36.18 and a 12-month high of $43.71. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.91.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Friday, March 9th. Tribune Media’s dividend payout ratio (DPR) is 70.92%.

Hedge funds have recently modified their holdings of the company. Cerebellum GP LLC purchased a new position in shares of Tribune Media during the 4th quarter worth approximately $132,000. State of Alaska Department of Revenue purchased a new position in shares of Tribune Media during the 4th quarter worth approximately $212,000. Vident Investment Advisory LLC purchased a new position in shares of Tribune Media during the 3rd quarter worth approximately $251,000. Suntrust Banks Inc. purchased a new position in shares of Tribune Media during the 4th quarter worth approximately $255,000. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Tribune Media by 233.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 7,620 shares of the company’s stock worth $324,000 after buying an additional 5,338 shares in the last quarter. 87.90% of the stock is 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, 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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