Revenue Update on Tribune Media Co(NYSE:TRCO)

Tribune Media Co(NYSE:TRCO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $526.11M. Analysts estimated a revenue of $538.70M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.40.

In a different note, On Jun 1, 2016, Morgan Stanley said it Downgrades its rating on Tribune Media Co. In the research note, the firm Lowers the price-target to $39.00 per share. The shares have been rated ‘Underweight’ by the firm.

Tribune Media Co (TRCO) made into the market gainers list on Wednesdays trading session with the shares advancing 0.52% or 0.2 points. Due to strong positive momentum, the stock ended at $38.73, which is also near the day’s high of $38.78. The stock began the session at $38.3 and the volume stood at 2,29,490 shares. The 52-week high of the shares is $44.165 and the 52 week low is $26.1. The company has a current market capitalization of $3,508 M and it has 9,05,83,299 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 15, 2016, Matthew Cherniss (Pres. and Gen. Mgr., WGN Amer.) sold 1,535 shares at $38.77 per share price.Also, 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.

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