Equities research analysts predict that TEGNA Inc. (NYSE:TGNA) will report earnings of $0.38 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for TEGNA’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.39. TEGNA reported earnings of $0.74 per share in the same quarter last year, which would indicate a negative year over year growth rate of 48.6%. The firm is expected to issue its next quarterly earnings results on Friday, March 6th.
Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for TEGNA.
TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.27. TEGNA had a return on equity of 24.84% and a net margin of 16.15%. The firm had revenue of $551.86 million during the quarter, compared to analysts’ expectations of $540.52 million. During the same period last year, the firm posted $0.40 EPS. The business’s revenue was up 2.4% on a year-over-year basis.
A number of research firms recently weighed in on TGNA. Barrington Research reaffirmed a “buy” rating and set a $20.00 price target on shares of TEGNA in a report on Thursday, November 14th. Benchmark raised their price target on TEGNA to and gave the company a “buy” rating in a report on Friday, January 10th. ValuEngine raised TEGNA from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research raised TEGNA from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Friday, January 3rd. Finally, Argus reaffirmed a “buy” rating and set a $21.00 price target on shares of TEGNA in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.56.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. boosted its position in TEGNA by 3.8% in the 3rd quarter. First Mercantile Trust Co. now owns 19,880 shares of the company’s stock valued at $309,000 after buying an additional 735 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of TEGNA by 8.1% in the 3rd quarter. LS Investment Advisors LLC now owns 11,612 shares of the company’s stock worth $180,000 after purchasing an additional 867 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of TEGNA by 2.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 56,520 shares of the company’s stock worth $943,000 after purchasing an additional 1,220 shares during the last quarter. US Bancorp DE boosted its position in shares of TEGNA by 7.2% in the 2nd quarter. US Bancorp DE now owns 18,777 shares of the company’s stock worth $284,000 after purchasing an additional 1,265 shares during the last quarter. Finally, Rothschild Investment Corp IL boosted its position in shares of TEGNA by 2.5% in the 4th quarter. Rothschild Investment Corp IL now owns 56,101 shares of the company’s stock worth $936,000 after purchasing an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.
TGNA stock traded up $0.13 during midday trading on Friday, reaching $17.88. 2,454,100 shares of the company’s stock traded hands, compared to its average volume of 2,103,962. The company has a 50-day simple moving average of $16.71 and a two-hundred day simple moving average of $15.54. TEGNA has a 1-year low of $11.25 and a 1-year high of $18.30. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 0.82 and a beta of 1.44. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.81.
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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