Tribune (NYSE:TRCO) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.00.
Several brokerages have recently issued reports on TRCO. Zacks Investment Research cut Tribune from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Evercore ISI began coverage on Tribune in a research note on Tuesday, July 31st. They issued a “buy” rating and a $40.00 price objective for the company. Finally, ValuEngine cut Tribune from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st.
Shares of TRCO traded down $0.26 during midday trading on Monday, hitting $38.88. The company had a trading volume of 588,900 shares, compared to its average volume of 1,218,433. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.35 and a current ratio of 3.35. The stock has a market capitalization of $3.43 billion, a PE ratio of 27.64 and a beta of 1.06. Tribune has a 1 year low of $31.61 and a 1 year high of $43.71.
Tribune (NYSE:TRCO) last announced its quarterly earnings data on Friday, November 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $498.00 million during the quarter, compared to analysts’ expectations of $481.79 million. Tribune had a return on equity of 7.72% and a net margin of 31.69%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Analysts predict that Tribune will post 3.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, November 19th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, November 16th. Tribune’s payout ratio is 70.92%.
A number of hedge funds have recently bought and sold shares of TRCO. Guggenheim Capital LLC lifted its stake in Tribune by 41.6% during the first quarter. Guggenheim Capital LLC now owns 11,571 shares of the company’s stock worth $469,000 after purchasing an additional 3,401 shares during the last quarter. Royal Bank of Canada lifted its stake in Tribune by 813.2% during the first quarter. Royal Bank of Canada now owns 2,977 shares of the company’s stock worth $121,000 after purchasing an additional 2,651 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Tribune by 40.0% during the second quarter. State of Alaska Department of Revenue now owns 8,750 shares of the company’s stock worth $334,000 after purchasing an additional 2,500 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Tribune by 79.3% during the second quarter. Xact Kapitalforvaltning AB now owns 15,823 shares of the company’s stock worth $606,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Tribune during the second quarter worth approximately $17,419,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Tribune Company Profile
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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