Tribune (TRCO) Debt Trading 2.4% Higher

An issue of Tribune (NYSE:TRCO) bonds rose 2.4% as a percentage of their face value during trading on Friday. The debt issue has a 5.875% coupon and is set to mature on July 15, 2022. The bonds in the issue are now trading at $101.75 and were trading at $100.88 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

Several equities research analysts have recently issued reports on TRCO shares. ValuEngine raised shares of Tribune from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Zacks Investment Research raised shares of Tribune from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Saturday, November 17th. Gabelli started coverage on shares of Tribune in a research note on Tuesday, November 27th. They set a “buy” rating on the stock. Finally, FinnCap started coverage on shares of Tribune in a research note on Tuesday, November 27th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.00.

Tribune stock traded up $0.37 during midday trading on Friday, reaching $40.26. The company had a trading volume of 3,609,917 shares, compared to its average volume of 1,356,187. The firm has a market capitalization of $3.53 billion, a PE ratio of 28.55 and a beta of 1.06. Tribune has a 12-month low of $31.61 and a 12-month high of $43.71. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.85.

Tribune (NYSE:TRCO) last issued its quarterly earnings results on Friday, November 9th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.08. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $481.79 million. Tribune had a net margin of 31.69% and a return on equity of 7.72%. Tribune’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. On average, sell-side analysts predict that Tribune will post 3.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, November 19th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 16th. Tribune’s dividend payout ratio is presently 70.92%.

A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Tribune by 4.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,818 shares of the company’s stock valued at $1,371,000 after buying an additional 1,502 shares in the last quarter. BTG Pactual Global Asset Management Ltd lifted its stake in Tribune by 1.1% in the 2nd quarter. BTG Pactual Global Asset Management Ltd now owns 139,246 shares of the company’s stock valued at $5,329,000 after buying an additional 1,539 shares in the last quarter. Visionary Asset Management Inc. lifted its stake in Tribune by 18.2% in the 3rd quarter. Visionary Asset Management Inc. now owns 10,602 shares of the company’s stock valued at $407,000 after buying an additional 1,630 shares in the last quarter. Stone Ridge Asset Management LLC lifted its stake in Tribune by 24.9% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 10,249 shares of the company’s stock valued at $394,000 after buying an additional 2,042 shares in the last quarter. Finally, NumerixS Investment Technologies Inc lifted its stake in Tribune by 170.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,782 shares of the company’s stock valued at $144,000 after buying an additional 2,382 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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Tribune Company Profile (NYSE:TRCO)

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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