TEGNA Inc. (NYSE:TGNA) Expected to Announce Earnings of $1.03 Per Share

Equities research analysts expect TEGNA Inc. (NYSE:TGNA) to report earnings per share of $1.03 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for TEGNA’s earnings. The highest EPS estimate is $1.04 and the lowest is $1.01. TEGNA reported earnings of $0.47 per share during the same quarter last year, which indicates a positive year over year growth rate of 119.1%. The business is scheduled to issue its next earnings report on Tuesday, February 9th.

Zacks’ EPS calculations are an average based on a survey of analysts that cover TEGNA.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Monday, November 9th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $738.40 million for the quarter, compared to analysts’ expectations of $737.97 million. TEGNA had a net margin of 9.51% and a return on equity of 17.43%. The company’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share.

TGNA has been the topic of several recent analyst reports. ValuEngine downgraded TEGNA from a “sell” rating to a “strong sell” rating in a research note on Friday, October 16th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 11th. Zacks Investment Research cut TEGNA from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a report on Tuesday, October 13th. Finally, Barrington Research restated a “buy” rating and set a $15.00 price target on shares of TEGNA in a report on Monday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.86.

TGNA traded up $0.37 on Friday, hitting $14.59. 85,097 shares of the company’s stock traded hands, compared to its average volume of 2,412,727. The company’s 50 day simple moving average is $12.33 and its 200-day simple moving average is $11.77. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.63 and a beta of 1.29. TEGNA has a one year low of $9.61 and a one year high of $18.31. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 2.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, December 10th. TEGNA’s dividend payout ratio is presently 20.29%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. raised its position in shares of TEGNA by 57,351.9% during the 2nd quarter. Macquarie Group Ltd. now owns 4,021,631 shares of the company’s stock worth $44,801,000 after purchasing an additional 4,014,631 shares during the last quarter. LSV Asset Management grew its stake in shares of TEGNA by 13.8% in the second quarter. LSV Asset Management now owns 8,338,483 shares of the company’s stock valued at $92,890,000 after acquiring an additional 1,008,595 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of TEGNA by 324.4% in the second quarter. Victory Capital Management Inc. now owns 1,211,968 shares of the company’s stock valued at $13,502,000 after acquiring an additional 926,402 shares in the last quarter. Cove Street Capital LLC grew its stake in shares of TEGNA by 99.4% in the second quarter. Cove Street Capital LLC now owns 890,916 shares of the company’s stock valued at $9,924,000 after acquiring an additional 444,184 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in TEGNA by 816.1% during the second quarter. State of Wisconsin Investment Board now owns 439,711 shares of the company’s stock worth $4,898,000 after buying an additional 391,711 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors.

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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