$0.31 Earnings Per Share Expected for Tegna Inc (TGNA) This Quarter

Analysts forecast that Tegna Inc (NYSE:TGNA) will post earnings of $0.31 per share for the current quarter, according to Zacks. Six analysts have made estimates for Tegna’s earnings, with estimates ranging from $0.28 to $0.35. Tegna posted earnings per share of $0.74 during the same quarter last year, which would indicate a negative year over year growth rate of 58.1%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, March 1st.

Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Tegna.

A number of equities research analysts have recently weighed in on the company. B. Riley reissued a “neutral” rating on shares of Tegna in a research note on Wednesday, November 1st. Noble Financial reissued a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. BidaskClub lowered Tegna from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered Tegna from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, ValuEngine raised Tegna from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.22.

In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the transaction, the senior vice president now owns 32,335 shares of the company’s stock, valued at approximately $442,666.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. raised its position in Tegna by 0.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock valued at $148,994,000 after purchasing an additional 57,105 shares during the last quarter. Empirical Finance LLC raised its position in Tegna by 75.0% during the 3rd quarter. Empirical Finance LLC now owns 123,668 shares of the company’s stock valued at $1,649,000 after purchasing an additional 52,993 shares during the last quarter. AXA grew its holdings in shares of Tegna by 126.0% during the 3rd quarter. AXA now owns 830,352 shares of the company’s stock worth $11,069,000 after acquiring an additional 462,916 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Tegna by 47.4% during the 3rd quarter. Janus Henderson Group PLC now owns 23,000 shares of the company’s stock worth $307,000 after acquiring an additional 7,400 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Tegna by 8.2% during the 3rd quarter. California Public Employees Retirement System now owns 689,346 shares of the company’s stock worth $9,189,000 after acquiring an additional 52,046 shares during the period. 96.30% of the stock is owned by institutional investors and hedge funds.

Tegna (NYSE:TGNA) traded down $0.17 during midday trading on Friday, hitting $13.78. The stock had a trading volume of 1,470,000 shares, compared to its average volume of 2,050,000. Tegna has a 12 month low of $11.59 and a 12 month high of $26.65. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $2,970.00, a price-to-earnings ratio of 8.89, a PEG ratio of 6.79 and a beta of 1.50.

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About Tegna

Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.

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Earnings History and Estimates for Tegna (NYSE:TGNA)

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