Brokerages forecast that TEGNA Inc. (NYSE:TGNA) will report $643.95 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided 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 posted sales of $490.32 million in the same quarter last year, which indicates a positive year over year growth rate of 31.3%. The company is expected to announce its next quarterly earnings results before the market opens on Friday, March 1st.
On average, analysts expect that TEGNA will report full-year sales of $2.20 billion for the current fiscal year, with estimates ranging from $2.19 billion to $2.21 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.17 billion, with estimates ranging from $2.11 billion to $2.22 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover TEGNA.
TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. TEGNA had a return on equity of 28.02% and a net margin of 26.46%. The firm had revenue of $539.00 million for the quarter, compared to analysts’ expectations of $537.68 million. During the same period in the prior year, the business posted $0.23 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of TEGNA by 1.3% during the third quarter. BlackRock Inc. now owns 24,772,555 shares of the company’s stock valued at $296,279,000 after acquiring an additional 328,696 shares during the period. Vanguard Group Inc. lifted its stake in shares of TEGNA by 2.7% during the third quarter. Vanguard Group Inc. now owns 21,012,929 shares of the company’s stock valued at $251,314,000 after acquiring an additional 549,310 shares during the period. Vanguard Group Inc lifted its stake in shares of TEGNA by 2.7% during the third quarter. Vanguard Group Inc now owns 21,012,929 shares of the company’s stock valued at $251,314,000 after acquiring an additional 549,310 shares during the period. Victory Capital Management Inc. lifted its stake in shares of TEGNA by 2.6% during the third quarter. Victory Capital Management Inc. now owns 4,961,640 shares of the company’s stock valued at $59,341,000 after acquiring an additional 124,988 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 29,469 shares during the period. 94.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TGNA opened at $11.78 on Monday. TEGNA has a fifty-two week low of $10.00 and a fifty-two week high of $15.60. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.80 and a beta of 1.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 2.48.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, December 6th. TEGNA’s dividend payout ratio is currently 25.93%.
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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