$0.28 EPS Expected for TEGNA Inc. (NYSE:TGNA) This Quarter

Brokerages forecast that TEGNA Inc. (NYSE:TGNA) will report earnings of $0.28 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for TEGNA’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. TEGNA reported earnings of $0.40 per share in the same quarter last year, which indicates a negative year over year growth rate of 30%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, November 7th.

Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover TEGNA.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The company had revenue of $536.90 million for the quarter, compared to analyst estimates of $534.10 million. TEGNA had a net margin of 18.24% and a return on equity of 28.43%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS.

Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of TEGNA from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Cannonball Research started coverage on shares of TEGNA in a research report on Wednesday, August 21st. They issued a “neutral” rating and a $17.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of TEGNA in a research report on Friday, May 10th. Zacks Investment Research downgraded shares of TEGNA from a “hold” rating to a “sell” rating and set a $16.00 target price on the stock. in a research report on Wednesday, August 7th. Finally, Stephens downgraded shares of TEGNA from an “overweight” rating to an “equal” rating and dropped their target price for the company from $19.00 to $17.00 in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.14.

TGNA traded up $0.47 during trading on Wednesday, hitting $14.68. The stock had a trading volume of 2,248,636 shares, compared to its average volume of 2,946,693. TEGNA has a twelve month low of $10.24 and a twelve month high of $16.58. The stock has a 50 day simple moving average of $14.73 and a two-hundred day simple moving average of $14.89. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market capitalization of $3.10 billion, a PE ratio of 8.02, a PEG ratio of 1.17 and a beta of 1.47.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, September 5th. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.

Large investors have recently modified their holdings of the company. Piedmont Investment Advisors Inc. bought a new position in shares of TEGNA during the 1st quarter valued at about $174,000. Mason Street Advisors LLC boosted its holdings in TEGNA by 1.8% in the first quarter. Mason Street Advisors LLC now owns 114,757 shares of the company’s stock worth $1,618,000 after acquiring an additional 1,982 shares in the last quarter. Cerebellum GP LLC bought a new position in TEGNA in the second quarter worth approximately $232,000. Dorsey Wright & Associates bought a new position in TEGNA in the second quarter worth approximately $1,823,000. Finally, Empowered Funds LLC bought a new position in TEGNA in the second quarter worth approximately $2,095,000. 99.49% of the stock is currently owned by institutional investors and hedge funds.

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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