TEGNA (NYSE:TGNA) posted its earnings results on Tuesday, August 6th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03, Briefing.com reports. TEGNA had a return on equity of 28.43% and a net margin of 18.24%. The company had revenue of $536.90 million for the quarter, compared to the consensus estimate of $534.10 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.
Shares of NYSE:TGNA opened at $13.61 on Friday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 1.12 and a beta of 1.46. The company has a 50-day moving average price of $15.10 and a 200-day moving average price of $14.68. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 2.05. TEGNA has a 12 month low of $10.24 and a 12 month high of $16.57.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 5th. TEGNA’s dividend payout ratio (DPR) is 15.30%.
Large investors have recently modified their holdings of the company. Advisors Preferred LLC bought a new position in shares of TEGNA during the second quarter valued at about $25,000. Tower Research Capital LLC TRC bought a new position in shares of TEGNA during the second quarter valued at about $50,000. Advisory Services Network LLC purchased a new position in shares of TEGNA during the fourth quarter valued at about $52,000. Resources Investment Advisors LLC. purchased a new position in shares of TEGNA during the second quarter valued at about $71,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of TEGNA during the second quarter valued at about $85,000. 96.76% of the stock is owned by hedge funds and other institutional investors.
TEGNA Company Profile
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.
Further Reading: Golden Cross
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