Tribune (TRCO) Issues Earnings Results
Tribune (NYSE:TRCO) posted its earnings results on Friday. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08, MarketWatch Earnings reports. The firm had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $481.79 million. Tribune had a net margin of 28.61% and a return on equity of 7.18%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share.
Shares of Tribune stock opened at $39.25 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.86. Tribune has a 1-year low of $31.61 and a 1-year high of $43.71. The firm has a market capitalization of $3.41 billion, a PE ratio of 14.84 and a beta of 1.06.
Several institutional investors have recently modified their holdings of TRCO. Royal Bank of Canada lifted its stake in shares of Tribune by 813.2% in the first quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after buying an additional 2,651 shares during the last quarter. NumerixS Investment Technologies Inc lifted its stake in shares of Tribune by 170.1% in the second quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock worth $144,000 after buying an additional 2,382 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Tribune in the second quarter worth $230,000. Sphinx Trading LP acquired a new stake in shares of Tribune in the second quarter worth $249,000. Finally, Standard Life Aberdeen plc acquired a new stake in shares of Tribune in the second quarter worth $267,000. Institutional investors and hedge funds own 94.16% of the company’s stock.
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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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