NEW YORK (TheStreet) -- Shares of Tribune Media Co. (TRCO) - Get Report are advancing 9.23% to $35.99 on heavy trading volume in afternoon trading on Monday after the company reported its 2015 fourth quarter results.
Before today's opening bell, the Chicago-based television and entertainment company posted adjusted earnings of 63 cents per diluted share, topping analysts' expectations of 55 cents per share.
Revenue for the quarter was $547.6 million, higher than Wall Street's projections of $543.1 million.
The broadcasting company said it would "explore the full range of strategic and financial alternatives to enhance shareholder value."
"The Board of Directors and management remain focused on maximizing shareholder value. We believe that the value of the portfolio of businesses of Tribune Media is not fully reflected in the stock price," Chairman Bruce Karsh said in a statement.
The strategic alternatives could include the sale of businesses, partnerships and return of capital initiatives.
Last summer, the company spun off its publishing businesses, including newspapers such as the Los Angeles Times and the Chicago Tribune.
Additionally, Tribune announced a $400 million stock buyback program.
About 2.81 million of the company's shares were traded by this afternoon, well above its average volume of 569,713 shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by multiple weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TRCO