State of Wisconsin Investment Board Has $19.67 Million Stake in Tribune Media Company (TRCO)
State of Wisconsin Investment Board grew its stake in Tribune Media Company (NYSE:TRCO) by 154.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 481,293 shares of the company’s stock after purchasing an additional 292,240 shares during the quarter. State of Wisconsin Investment Board owned about 0.55% of Tribune Media worth $19,666,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Nationwide Fund Advisors acquired a new stake in Tribune Media during the 1st quarter worth $103,000. OppenheimerFunds Inc. acquired a new stake in Tribune Media during the 1st quarter worth $373,000. Teachers Advisors LLC raised its stake in Tribune Media by 23.8% during the 1st quarter. Teachers Advisors LLC now owns 176,347 shares of the company’s stock worth $6,572,000 after buying an additional 33,858 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Tribune Media during the 1st quarter worth $32,630,000. Finally, BlackRock Inc. raised its stake in Tribune Media by 10,758.5% during the 1st quarter. BlackRock Inc. now owns 3,059,287 shares of the company’s stock worth $114,020,000 after buying an additional 3,031,113 shares during the period. 96.03% of the stock is currently owned by institutional investors.
Tribune Media Company (NYSE TRCO) opened at $41.00 on Friday. The stock has a market capitalization of $3,579.34, a PE ratio of 28.28, a price-to-earnings-growth ratio of 11.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.99 and a current ratio of 1.76. Tribune Media Company has a 1-year low of $27.75 and a 1-year high of $43.04.
Tribune Media (NYSE:TRCO) last released its earnings results on Wednesday, November 8th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.06). The firm had revenue of $450.53 million for the quarter, compared to the consensus estimate of $459.81 million. Tribune Media had a positive return on equity of 4.11% and a negative net margin of 6.12%. Tribune Media’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. equities analysts forecast that Tribune Media Company will post 1.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, November 17th. Tribune Media’s dividend payout ratio (DPR) is presently -75.19%.
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Several analysts recently commented on the company. Zacks Investment Research downgraded Tribune Media from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 21st. Deutsche Bank AG assumed coverage on Tribune Media in a research note on Friday, October 20th. They set a “hold” rating and a $42.00 price objective on the stock. BidaskClub raised Tribune Media from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $42.00 price objective on shares of Tribune Media in a research note on Monday, August 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.88.
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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