Tribune (TRCO) Issues Earnings Results

Tribune (NYSE:TRCO) issued its quarterly earnings data on Friday. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08, MarketWatch Earnings reports. The firm had revenue of $498.00 million during the quarter, compared to analyst estimates of $481.79 million. Tribune had a return on equity of 7.18% and a net margin of 28.61%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS.

Shares of NYSE TRCO traded up $0.12 during midday trading on Friday, reaching $39.05. The company’s stock had a trading volume of 1,263,224 shares, compared to its average volume of 1,080,452. Tribune has a 12-month low of $31.61 and a 12-month high of $43.71. The company has a market capitalization of $3.36 billion, a PE ratio of 27.69 and a beta of 1.06. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.86.

A number of analysts have commented on the company. ValuEngine raised Tribune from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research lowered Tribune from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 12th. Wells Fargo & Co decreased their price objective on Tribune from $42.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, July 18th. Evercore ISI started coverage on Tribune in a research note on Tuesday, July 31st. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Stephens downgraded Tribune from an “overweight” rating to an “equal” rating and cut their target price for the stock from $41.00 to $37.00 in a research note on Thursday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Tribune presently has an average rating of “Hold” and a consensus price target of $40.20.

Several hedge funds and other institutional investors have recently made changes to their positions in TRCO. Royal Bank of Canada boosted its stake in shares of Tribune by 813.2% in the 1st 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 boosted its stake in shares of Tribune by 170.1% in the 2nd 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 purchased a new position in shares of Tribune in the 2nd quarter worth approximately $230,000. Sphinx Trading LP purchased a new position in shares of Tribune in the 2nd quarter worth approximately $249,000. Finally, Standard Life Aberdeen plc purchased a new position in shares of Tribune in the 2nd quarter worth approximately $267,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.

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About Tribune

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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Earnings History for Tribune (NYSE:TRCO)

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