Brokerages Anticipate TEGNA Inc. (NYSE:TGNA) Will Announce Earnings of $0.39 Per Share

Equities analysts forecast that TEGNA Inc. (NYSE:TGNA) will announce earnings per share of $0.39 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TEGNA’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.38. TEGNA posted earnings of $0.29 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 34.5%. The business is expected to announce its next quarterly earnings report on Thursday, May 14th.

Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for TEGNA.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. TEGNA had a return on equity of 20.01% and a net margin of 12.45%. The business had revenue of $693.90 million for the quarter, compared to analysts’ expectations of $690.01 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis.

A number of brokerages have weighed in on TGNA. Barrington Research restated a “buy” rating and issued a $20.00 target price on shares of TEGNA in a research note on Tuesday, February 11th. Benchmark upped their target price on TEGNA from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. ValuEngine lowered TEGNA from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research upgraded TEGNA from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Friday, January 3rd. Finally, Argus restated a “buy” rating and issued a $21.00 target price on shares of TEGNA in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.00.

TGNA traded up $0.71 during trading on Friday, reaching $11.32. 6,206,916 shares of the company were exchanged, compared to its average volume of 3,558,830. The company’s 50-day moving average is $15.27 and its two-hundred day moving average is $15.82. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.48 and a beta of 1.53. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 2.69. TEGNA has a 12-month low of $9.61 and a 12-month high of $18.31.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.28 annualized dividend and a dividend yield of 2.47%. TEGNA’s dividend payout ratio (DPR) is presently 20.29%.

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of TEGNA during the 4th quarter valued at about $52,288,000. Ackerman Capital Advisors LLC purchased a new stake in TEGNA during the 4th quarter valued at about $367,000. Geode Capital Management LLC boosted its holdings in TEGNA by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 2,963,077 shares of the company’s stock valued at $49,453,000 after acquiring an additional 85,776 shares during the period. Mason Street Advisors LLC boosted its holdings in TEGNA by 1.5% during the 4th quarter. Mason Street Advisors LLC now owns 115,368 shares of the company’s stock valued at $1,925,000 after acquiring an additional 1,750 shares during the period. Finally, Alberta Investment Management Corp boosted its holdings in TEGNA by 38.5% during the 4th quarter. Alberta Investment Management Corp now owns 277,900 shares of the company’s stock valued at $4,638,000 after acquiring an additional 77,300 shares during the period. Hedge funds and other institutional investors own 99.60% of the company’s stock.

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.

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Earnings History and Estimates for TEGNA (NYSE:TGNA)

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