Brokerages Anticipate TEGNA Inc. (TGNA) Will Announce Earnings of $0.37 Per Share

Brokerages expect that TEGNA Inc. (NYSE:TGNA) will announce earnings of $0.37 per share for the current quarter, Zacks reports. Five analysts have made estimates for TEGNA’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.40. TEGNA posted earnings of $0.23 per share in the same quarter last year, which suggests a positive year over year growth rate of 60.9%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, November 8th.

Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover TEGNA.

TEGNA (NYSE:TGNA) last announced its earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. TEGNA had a net margin of 25.33% and a return on equity of 27.72%. The business had revenue of $524.08 million during the quarter, compared to analysts’ expectations of $516.52 million.

Several research analysts recently commented on the stock. ValuEngine cut shares of TEGNA from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 4th. Noble Financial set a $15.00 target price on shares of TEGNA and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Barrington Research restated a “buy” rating and set a $15.00 target price on shares of TEGNA in a report on Thursday, August 16th. Finally, Benchmark restated a “buy” rating and set a $17.00 target price on shares of TEGNA in a report on Wednesday, August 8th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.54.

A number of hedge funds and other institutional investors have recently bought and sold shares of TGNA. BlackRock Inc. raised its position in TEGNA by 31.9% during the second quarter. BlackRock Inc. now owns 24,443,859 shares of the company’s stock worth $265,215,000 after acquiring an additional 5,911,626 shares in the last quarter. Northern Trust Corp raised its position in TEGNA by 60.5% during the second quarter. Northern Trust Corp now owns 3,177,579 shares of the company’s stock worth $34,477,000 after acquiring an additional 1,197,787 shares in the last quarter. Ariel Investments LLC raised its position in TEGNA by 10.8% during the second quarter. Ariel Investments LLC now owns 9,882,320 shares of the company’s stock worth $107,223,000 after acquiring an additional 964,669 shares in the last quarter. Private Management Group Inc. raised its position in TEGNA by 60.7% during the second quarter. Private Management Group Inc. now owns 1,970,303 shares of the company’s stock worth $21,378,000 after acquiring an additional 744,261 shares in the last quarter. Finally, Fairpointe Capital LLC raised its position in TEGNA by 4.5% during the second quarter. Fairpointe Capital LLC now owns 13,028,393 shares of the company’s stock worth $141,358,000 after acquiring an additional 555,978 shares in the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TGNA opened at $11.91 on Wednesday. TEGNA has a 12 month low of $10.00 and a 12 month high of $15.60. The firm has a market cap of $2.57 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.36 and a beta of 1.62. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.80.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 7th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 6th. TEGNA’s dividend payout ratio (DPR) is currently 25.93%.

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.

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Earnings History and Estimates for TEGNA (NYSE:TGNA)

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