Tribune Media Company (NYSE:TRCO) announced a quarterly dividend on Wednesday, August 9th, NASDAQ reports. Shareholders of record on Monday, August 21st will be given a dividend of 0.25 per share on Tuesday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 17th.
Tribune Media has a payout ratio of 64.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tribune Media to earn $2.11 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 47.4%.
Shares of Tribune Media (TRCO) opened at 40.46 on Friday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 73.16 and a beta of 1.52. The firm’s 50-day moving average is $41.16 and its 200-day moving average is $37.94. Tribune Media has a 12-month low of $27.75 and a 12-month high of $43.04.
Tribune Media (NYSE:TRCO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by $0.07. The business had revenue of $469.50 million for the quarter, compared to analysts’ expectations of $472.56 million. Tribune Media had a return on equity of 4.38% and a net margin of 2.49%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. On average, equities analysts predict that Tribune Media will post $1.33 EPS for the current year.
Several research analysts have commented on the stock. Jefferies Group LLC reissued a “hold” rating and set a $42.00 price target on shares of Tribune Media in a research note on Wednesday, June 14th. Morgan Stanley raised shares of Tribune Media from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $37.00 to $43.50 in a research note on Tuesday, May 9th. Zacks Investment Research downgraded shares of Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 13th. BWS Financial decreased their price target on shares of Tribune Media from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Finally, Wells Fargo & Company downgraded shares of Tribune Media from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.50.
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