Tribune Media Co. (TRCO) Receives Average Rating of “Hold” from Analysts
Tribune Media Co. (NYSE:TRCO) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $46.33.
TRCO has been the subject of a number of recent research reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Tribune Media in a research note on Monday, September 26th. Jefferies Group reissued a “hold” rating on shares of Tribune Media in a research note on Thursday, August 25th. Finally, Zacks Investment Research downgraded Tribune Media from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th.
Shares of Tribune Media (NYSE:TRCO) traded up 0.12% during trading on Monday, hitting $34.29. 167,814 shares of the stock were exchanged. The firm has a 50 day moving average of $33.59 and a 200-day moving average of $37.01. Tribune Media has a 12-month low of $26.10 and a 12-month high of $40.72. The company’s market cap is $3.00 billion.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.04. Tribune Media had a positive return on equity of 4.27% and a negative net margin of 18.26%. The firm had revenue of $518.10 million for the quarter, compared to analysts’ expectations of $547.90 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that Tribune Media will post $2.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Monday, November 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, November 17th. Tribune Media’s dividend payout ratio is currently -24.39%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in shares of Tribune Media by 181.2% in the third quarter. Morgan Stanley now owns 2,267,633 shares of the company’s stock valued at $82,814,000 after buying an additional 1,461,200 shares in the last quarter. FMR LLC raised its stake in shares of Tribune Media by 487.6% in the second quarter. FMR LLC now owns 629,695 shares of the company’s stock valued at $24,671,000 after buying an additional 522,525 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Tribune Media during the second quarter valued at $9,028,000. Price T Rowe Associates Inc. MD raised its stake in shares of Tribune Media by 3.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,894,456 shares of the company’s stock valued at $251,786,000 after buying an additional 200,106 shares during the last quarter. Finally, OZ Management LP purchased a new stake in shares of Tribune Media during the third quarter valued at $6,422,000.
About Tribune Media
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