TEGNA Inc. (TGNA) Expected to Announce Earnings of $0.35 Per Share

Equities analysts expect TEGNA Inc. (NYSE:TGNA) to announce earnings of $0.35 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for TEGNA’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.32. TEGNA reported earnings of $0.29 per share in the same quarter last year, which suggests a positive year over year growth rate of 20.7%. The company is expected to issue its next earnings report on Tuesday, August 7th.

Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover TEGNA.

TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, May 8th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $502.10 million during the quarter, compared to the consensus estimate of $497.35 million. TEGNA had a return on equity of 27.89% and a net margin of 23.56%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share.

Several research firms have commented on TGNA. B. Riley dropped their target price on TEGNA from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 9th. ValuEngine downgraded TEGNA from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Benchmark restated a “buy” rating and set a $17.00 price objective on shares of TEGNA in a research report on Wednesday, May 9th. Barrington Research restated a “buy” rating and set a $18.00 price objective on shares of TEGNA in a research report on Tuesday, May 8th. Finally, Noble Financial restated a “buy” rating on shares of TEGNA in a research report on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.09.

In related news, COO Lynn B. Trelstad sold 3,112 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $12.85, for a total transaction of $39,989.20. Following the completion of the sale, the chief operating officer now owns 24,152 shares of the company’s stock, valued at $310,353.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neal Shapiro sold 12,385 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $12.57, for a total value of $155,679.45. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new stake in TEGNA during the fourth quarter worth approximately $104,000. Amundi Pioneer Asset Management Inc. acquired a new stake in TEGNA during the fourth quarter worth approximately $129,000. Quantbot Technologies LP acquired a new stake in TEGNA during the first quarter worth approximately $137,000. Conning Inc. acquired a new stake in TEGNA in the fourth quarter valued at approximately $147,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in TEGNA in the first quarter valued at approximately $148,000. 95.96% of the stock is owned by institutional investors and hedge funds.

TEGNA stock traded down $0.01 during trading hours on Tuesday, hitting $10.91. The stock had a trading volume of 1,399,300 shares, compared to its average volume of 2,211,657. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 3.08. The company has a market capitalization of $2.38 billion, a PE ratio of 10.10, a P/E/G ratio of 0.45 and a beta of 1.60. TEGNA has a one year low of $10.00 and a one year high of $15.62.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.57%. TEGNA’s dividend payout ratio (DPR) is 25.93%.

About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.

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Earnings History and Estimates for TEGNA (NYSE:TGNA)

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