Tribune Media Co. (trco) to Issue Quarterly Dividend of $0.25 on December 6th
Tribune Media Co. (NYSE:trco) declared a quarterly dividend on Wednesday, November 9th. Investors of record on Monday, November 21st will be given a dividend of 0.25 per share on Tuesday, December 6th. This represents a $1.00 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, November 17th.
Tribune Media (NYSE:TRCO) opened at 34.18 on Friday. The firm’s market cap is $3.08 billion. The company has a 50-day moving average of $33.93 and a 200 day moving average of $37.25. Tribune Media has a 52-week low of $26.10 and a 52-week high of $40.72.
Tribune Media (NYSE:TRCO) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.04. Tribune Media had a negative net margin of 18.26% and a positive return on equity of 4.24%. The firm earned $518.10 million during the quarter, compared to the consensus estimate of $547.90 million. During the same period last year, the business earned $0.28 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Tribune Media will post $2.19 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in shares of Tribune Media during the third quarter valued at approximately $338,000. Northern Trust Corp boosted its stake in shares of Tribune Media by 5.7% in the third quarter. Northern Trust Corp now owns 324,210 shares of the company’s stock valued at $11,840,000 after buying an additional 17,500 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Tribune Media by 4.9% in the third quarter. BlackRock Investment Management LLC now owns 39,244 shares of the company’s stock valued at $1,433,000 after buying an additional 1,816 shares during the period. Fiera Capital Corp boosted its stake in shares of Tribune Media by 1.0% in the second quarter. Fiera Capital Corp now owns 61,100 shares of the company’s stock valued at $2,394,000 after buying an additional 600 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Tribune Media during the second quarter valued at $506,000.
A number of research analysts have recently commented on the stock. Wells Fargo & Co. reissued a “buy” rating on shares of Tribune Media in a research report on Monday, September 26th. Jefferies Group reissued a “hold” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Tribune Media in a research report on Friday. Finally, Zacks Investment Research raised shares of Tribune Media from a “sell” rating to a “hold” rating in a research report on Saturday, August 20th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.50.
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