Wall Street brokerages expect TEGNA Inc. (NYSE:TGNA) to post earnings of $0.60 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for TEGNA’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.57. TEGNA posted earnings per share of $0.32 in the same quarter last year, which would suggest a positive year-over-year growth rate of 87.5%. The company is expected to report its next earnings results on Thursday, March 7th.
Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow TEGNA.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $537.68 million. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS.
A number of analysts recently commented on TGNA shares. ValuEngine cut TEGNA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Zacks Investment Research cut TEGNA from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Evercore ISI started coverage on TEGNA in a research report on Tuesday, July 31st. They set an “in-line” rating and a $14.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating and set a $12.00 price objective on shares of TEGNA in a research report on Tuesday, August 7th. Finally, Benchmark reiterated a “buy” rating and set a $17.00 price objective on shares of TEGNA in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. TEGNA presently has an average rating of “Hold” and an average target price of $14.50.
TEGNA stock opened at $12.44 on Friday. The stock has a market cap of $2.70 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.37 and a beta of 1.50. TEGNA has a 52 week low of $10.00 and a 52 week high of $15.60. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.93 and a quick ratio of 1.93.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, December 6th. TEGNA’s dividend payout ratio (DPR) is 25.93%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its stake in shares of TEGNA by 0.9% in the 3rd quarter. American International Group Inc. now owns 626,124 shares of the company’s stock valued at $7,488,000 after purchasing an additional 5,451 shares in the last quarter. BlackRock Inc. lifted its stake in shares of TEGNA by 1.3% in the 3rd quarter. BlackRock Inc. now owns 24,772,555 shares of the company’s stock valued at $296,279,000 after purchasing an additional 328,696 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of TEGNA by 244.8% in the 3rd quarter. Martingale Asset Management L P now owns 162,261 shares of the company’s stock valued at $1,941,000 after purchasing an additional 115,202 shares in the last quarter. Hourglass Capital LLC lifted its stake in shares of TEGNA by 22.8% in the 3rd quarter. Hourglass Capital LLC now owns 30,150 shares of the company’s stock valued at $361,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in shares of TEGNA by 137.6% in the 3rd quarter. Commonwealth Bank of Australia now owns 153,509 shares of the company’s stock valued at $1,833,000 after purchasing an additional 88,900 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
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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