TEGNA Inc. (NYSE:TGNA) Expected to Post Quarterly Sales of $786.60 Million

Wall Street analysts expect TEGNA Inc. (NYSE:TGNA) to post $786.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for TEGNA’s earnings, with the highest sales estimate coming in at $793.00 million and the lowest estimate coming in at $780.20 million. TEGNA reported sales of $937.58 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.1%. The firm is scheduled to issue its next quarterly earnings report on Monday, March 7th.

On average, analysts expect that TEGNA will report full year sales of $3.00 billion for the current year, with estimates ranging from $3.00 billion to $3.01 billion. For the next financial year, analysts forecast that the company will post sales of $3.44 billion, with estimates ranging from $3.41 billion to $3.47 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover TEGNA.

TEGNA (NYSE:TGNA) last issued its earnings results on Thursday, November 4th. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. TEGNA had a net margin of 18.76% and a return on equity of 27.31%. The business had revenue of $756.00 million for the quarter, compared to the consensus estimate of $746.88 million. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year.

Separately, Barrington Research downgraded shares of TEGNA from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a research note on Wednesday, September 22nd.

A number of hedge funds have recently made changes to their positions in the business. Arizona State Retirement System grew its holdings in TEGNA by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 57,130 shares of the company’s stock worth $1,127,000 after acquiring an additional 514 shares in the last quarter. Meridian Investment Counsel Inc. boosted its holdings in shares of TEGNA by 2.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 23,700 shares of the company’s stock valued at $467,000 after buying an additional 600 shares during the period. Phocas Financial Corp. boosted its holdings in shares of TEGNA by 0.5% in the 3rd quarter. Phocas Financial Corp. now owns 142,775 shares of the company’s stock valued at $2,816,000 after buying an additional 651 shares during the period. Cypress Capital LLC boosted its holdings in shares of TEGNA by 1.1% in the 1st quarter. Cypress Capital LLC now owns 66,204 shares of the company’s stock valued at $1,247,000 after buying an additional 698 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of TEGNA by 11.8% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,726 shares of the company’s stock valued at $152,000 after buying an additional 813 shares during the period. 88.88% of the stock is owned by institutional investors.

TEGNA stock traded up $0.12 during midday trading on Monday, hitting $21.12. 2,100,646 shares of the stock were exchanged, compared to its average volume of 1,508,203. TEGNA has a 1 year low of $13.05 and a 1 year high of $22.09. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.03 and a beta of 1.13. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.16 and a current ratio of 2.16. The company has a 50 day simple moving average of $20.00.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Friday, December 10th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, December 9th. TEGNA’s dividend payout ratio (DPR) is 14.18%.

About TEGNA

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.

Featured Article: 52 Week Highs and Lows

Get a free copy of the Zacks research report on TEGNA (TGNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TEGNA (NYSE:TGNA)

Receive News & Ratings for TEGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA and related companies with MarketBeat.com's FREE daily email newsletter.