TEGNA (NYSE:TGNA) Issues Quarterly Earnings Results

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%.

A number of research analysts have recently commented on the company. Noble Financial set a $20.00 price target on TEGNA and gave the company a “buy” rating in a research note on Friday, May 10th. ValuEngine cut shares of TEGNA from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Benchmark restated a “buy” rating and set a $18.00 price target on shares of TEGNA in a research note on Friday, May 10th. Stephens lowered shares of TEGNA from an “overweight” rating to an “equal” rating and reduced their price objective for the company from $19.00 to $17.00 in a research note on Tuesday, June 11th. Finally, Zacks Investment Research lowered shares of TEGNA from a “hold” rating to a “sell” rating and set a $16.00 price target for the company. in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. TEGNA presently has an average rating of “Hold” and an average price target of $17.17.

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

Earnings History for TEGNA (NYSE:TGNA)

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