Tribune (NYSE:TRCO) Issues Quarterly Earnings Results

Tribune (NYSE:TRCO) posted its quarterly earnings data on Friday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08, reports. The business had revenue of $484.00 million for the quarter, compared to the consensus estimate of $484.33 million. Tribune had a net margin of 19.03% and a return on equity of 9.55%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share.

Shares of NYSE:TRCO traded down $0.01 during midday trading on Friday, hitting $46.58. The company’s stock had a trading volume of 2,053,500 shares, compared to its average volume of 933,163. The business’s 50 day moving average is $46.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.69 and a current ratio of 3.69. The stock has a market cap of $4.11 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.99 and a beta of 0.48. Tribune has a 12-month low of $34.23 and a 12-month high of $46.60.

Several large investors have recently bought and sold shares of TRCO. Alpine Associates Management Inc. acquired a new position in shares of Tribune during the 1st quarter worth $106,472,000. CNH Partners LLC increased its position in shares of Tribune by 62.1% during the first quarter. CNH Partners LLC now owns 3,938,656 shares of the company’s stock valued at $181,730,000 after purchasing an additional 1,508,403 shares during the period. Water Island Capital LLC increased its position in shares of Tribune by 74.0% during the first quarter. Water Island Capital LLC now owns 3,445,396 shares of the company’s stock valued at $158,971,000 after purchasing an additional 1,465,599 shares during the period. Citigroup Inc. increased its position in shares of Tribune by 480.3% during the first quarter. Citigroup Inc. now owns 1,172,305 shares of the company’s stock valued at $54,090,000 after purchasing an additional 970,289 shares during the period. Finally, Norges Bank bought a new stake in shares of Tribune during the fourth quarter valued at approximately $42,694,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Saturday, May 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Tribune currently has a consensus rating of “Hold” and an average target price of $48.00.

About Tribune

Tribune Media Company, through its subsidiaries, operates as a diversified 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.

Further Reading: Economic Bubble

Earnings History for Tribune (NYSE:TRCO)

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