Tribune Media Company (TRCO) Declares $0.25 Quarterly Dividend
Tribune Media Company (NYSE:TRCO) announced a quarterly dividend on Thursday, November 9th, Wall Street Journal reports. Shareholders of record on Monday, November 20th will be paid a dividend of 0.25 per share on Tuesday, December 5th. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, November 17th.
Tribune Media has a payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Tribune Media to earn $1.55 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 64.5%.
Shares of Tribune Media (TRCO) traded up $0.56 during midday trading on Thursday, reaching $40.82. The company’s stock had a trading volume of 441,813 shares, compared to its average volume of 624,952. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market capitalization of $3,541.03, a P/E ratio of 25.04, a PEG ratio of 11.41 and a beta of 1.52. Tribune Media has a fifty-two week low of $27.75 and a fifty-two week high of $43.04.
Tribune Media (NYSE:TRCO) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The business had revenue of $450.53 million during the quarter, compared to analyst estimates of $459.81 million. During the same period in the prior year, the business posted $0.56 EPS. Tribune Media’s revenue was down 4.2% compared to the same quarter last year. analysts expect that Tribune Media will post 1.18 EPS for the current year.
Several brokerages have recently issued reports on TRCO. Zacks Investment Research cut Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. BidaskClub upgraded Tribune Media from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Deutsche Bank AG began coverage on Tribune Media in a research note on Friday, October 20th. They issued a “hold” rating and a $42.00 price objective for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $42.00 price target on shares of Tribune Media in a research report on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Tribune Media currently has an average rating of “Hold” and an average target price of $43.88.
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Tribune Media 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, 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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