Zacks: Analysts Anticipate Tribune Media Co (TRCO) Will Post Quarterly Sales of $489.17 Million
Wall Street analysts expect that Tribune Media Co (NYSE:TRCO) will report $489.17 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Tribune Media’s earnings, with the lowest sales estimate coming in at $484.00 million and the highest estimate coming in at $495.02 million. Tribune Media reported sales of $529.62 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.6%. The business is scheduled to issue its next quarterly earnings report 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 forecast that the company 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 sell-side research analysts that that provide coverage for Tribune Media.
Tribune Media (NYSE:TRCO) last issued its earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $450.53 million during the quarter, compared to the consensus estimate of $459.81 million. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis.
In related news, insider Tribune L.P. Oaktree sold 7,000,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $40.36, for a total transaction of $282,520,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in Tribune Media during the second quarter valued at $1,981,000. Omni Partners LLP lifted its position in Tribune Media by 283.2% during the second quarter. Omni Partners LLP now owns 383,181 shares of the company’s stock valued at $15,622,000 after purchasing an additional 283,181 shares during the last quarter. Alliancebernstein L.P. lifted its position in Tribune Media by 68.6% during the second quarter. Alliancebernstein L.P. now owns 79,490 shares of the company’s stock valued at $3,241,000 after purchasing an additional 32,356 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Tribune Media in the second quarter valued at $108,957,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Tribune Media in the second quarter valued at $24,413,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Tribune Media (NYSE TRCO) traded down $0.02 on Wednesday, hitting $42.45. 858,100 shares of the stock traded hands, compared to its average volume of 731,750. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.76 and a quick ratio of 1.76. Tribune Media has a 1 year low of $27.75 and a 1 year high of $43.04. The stock has a market capitalization of $3,707.67, a PE ratio of -31.92, a price-to-earnings-growth ratio of 8.30 and a beta of 1.51.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Tribune Media’s dividend payout ratio is -75.19%.
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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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