Wall Street brokerages predict that TEGNA Inc. (NYSE:TGNA) will announce earnings per share (EPS) of $0.35 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for TEGNA’s earnings, with estimates ranging from $0.32 to $0.39. TEGNA reported earnings per share of $0.29 during the same quarter last year, which would suggest a positive year over year growth rate of 20.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 7th.
Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow TEGNA.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. TEGNA had a return on equity of 27.89% and a net margin of 23.56%. The firm had revenue of $502.10 million during the quarter, compared to the consensus estimate of $497.35 million. During the same period last year, the business posted $0.33 EPS. TEGNA’s quarterly revenue was up 9.4% on a year-over-year basis.
Several equities analysts have weighed in on TGNA shares. Zacks Investment Research raised TEGNA from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Barclays set a $12.00 price target on TEGNA and gave the stock a “sell” rating in a research report on Sunday, March 4th. B. Riley dropped their price target on TEGNA from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 9th. Barrington Research reissued a “buy” rating and set a $18.00 price target on shares of TEGNA in a research report on Tuesday, May 8th. Finally, ValuEngine downgraded TEGNA from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. TEGNA currently has an average rating of “Hold” and a consensus price target of $15.09.
In other news, COO Lynn B. Trelstad sold 3,112 shares of TEGNA stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $12.85, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Neal Shapiro sold 12,385 shares of TEGNA stock in a transaction on Friday, March 16th. The shares were 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 insiders.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of TEGNA by 4.2% in the first quarter. BlackRock Inc. now owns 18,532,233 shares of the company’s stock valued at $211,083,000 after purchasing an additional 746,191 shares during the period. Fairpointe Capital LLC boosted its holdings in TEGNA by 10.9% in the fourth quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after acquiring an additional 1,119,057 shares during the last quarter. Schroder Investment Management Group boosted its holdings in TEGNA by 104.7% in the fourth quarter. Schroder Investment Management Group now owns 7,802,625 shares of the company’s stock valued at $109,861,000 after acquiring an additional 3,991,060 shares during the last quarter. Ariel Investments LLC boosted its holdings in TEGNA by 22.9% in the fourth quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock valued at $105,611,000 after acquiring an additional 1,395,820 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in TEGNA by 6.1% in the first quarter. LSV Asset Management now owns 4,987,526 shares of the company’s stock valued at $56,807,000 after acquiring an additional 286,200 shares during the last quarter. 98.90% of the stock is owned by institutional investors and hedge funds.
NYSE TGNA opened at $10.65 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 3.08. The company has a market capitalization of $2.30 billion, a P/E ratio of 9.86, a PEG ratio of 0.44 and a beta of 1.60. TEGNA has a 1-year low of $10.53 and a 1-year high of $10.82.
The firm 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, June 7th. 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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