TEGNA Inc. (TGNA) Expected to Post Quarterly Sales of $643.95 Million

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Wall Street brokerages expect TEGNA Inc. (NYSE:TGNA) to post $643.95 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for TEGNA’s earnings, with the lowest sales estimate coming in at $640.00 million and the highest estimate coming in at $648.90 million. TEGNA reported sales of $490.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 31.3%. The business is scheduled to issue its next earnings report before the market opens on Friday, March 1st.

According to Zacks, analysts expect that TEGNA will report full year sales of $2.20 billion for the current year, with estimates ranging from $2.19 billion to $2.21 billion. For the next year, analysts forecast that the company will report sales of $2.17 billion, with estimates ranging from $2.11 billion to $2.22 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for TEGNA.

Several analysts have commented on the stock. ValuEngine cut shares of TEGNA from a “sell” rating to a “strong sell” rating in a research note on Monday, January 7th. Gabelli began coverage on shares of TEGNA in a report on Tuesday, November 27th. They issued a “buy” rating for the company. Wolfe Research began coverage on shares of TEGNA in a report on Friday, December 7th. They set a “market perform” rating for the company. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a report on Friday, November 16th. Finally, Zacks Investment Research cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.18.

Institutional investors have recently added to or reduced their stakes in the stock. United Services Automobile Association raised its position in shares of TEGNA by 28.7% in the 3rd quarter. United Services Automobile Association now owns 93,741 shares of the company’s stock valued at $1,121,000 after purchasing an additional 20,930 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TEGNA by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,450,378 shares of the company’s stock valued at $53,226,000 after purchasing an additional 29,469 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of TEGNA by 37.5% during the third quarter. Deutsche Bank AG now owns 1,336,574 shares of the company’s stock valued at $15,982,000 after purchasing an additional 364,699 shares during the last quarter. Man Group plc lifted its holdings in shares of TEGNA by 180.9% during the third quarter. Man Group plc now owns 440,357 shares of the company’s stock valued at $5,266,000 after purchasing an additional 283,596 shares during the last quarter. Finally, People s United Financial Inc. acquired a new position in TEGNA in the 3rd quarter worth about $124,000. 93.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TEGNA stock traded up $0.03 on Wednesday, reaching $12.27. The stock had a trading volume of 1,496,948 shares, compared to its average volume of 1,746,066. The company has a market cap of $2.64 billion, a P/E ratio of 11.36, a PEG ratio of 0.81 and a beta of 1.53. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.48. TEGNA has a 1 year low of $10.00 and a 1 year high of $14.24.

TEGNA Company Profile

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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