Tribune Media Co (TRCO) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.40. The company posted revenue of $526.10 million in the period, compared to analysts expectations of $540.53 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.
Many Wall Street Analysts have commented on Tribune Media Co. Tribune Media Co was Downgraded by Morgan Stanley to ” Underweight” on Jun 1, 2016.
Tribune Media Co closed down -0.33 points or -0.88% at $37.3 with 4,18,467 shares getting traded on Monday. Post opening the session at $37.89, the shares hit an intraday low of $37.14 and an intraday high of $38.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 15, 2016, Matthew Cherniss (Pres. and Gen. Mgr., WGN Amer.) sold 1,535 shares at $38.77 per share price. According to the SEC, on Mar 7, 2016, Melanie Hughes (EVP, Human Resources) sold 7,298 shares at $39.15 per share price.
Tribune Media Company is a diversified media and entertainment business. The Company consists of 42 television stations to which it provides certain services along with a national general entertainment television network a radio station a production studio a digital and data technology business a portfolio of real estate assets and investments in a variety of media Websites and other related assets. The Company operates in the following segments: Television and Entertainment which provides audiences with news entertainment and sports programming on Tribune Broadcasting local television stations and television series and movies on WGN America including through content produced by Tribune Studios and its production partners and Digital and Data which provides technology and services that collect and distribute video music and entertainment data primarily through wholesale distribution channels to consumers across the world.