Zacks: Brokerages Anticipate TEGNA Inc. (TGNA) Will Post Quarterly Sales of $487.61 Million
Analysts forecast that TEGNA Inc. (NYSE:TGNA) will report sales of $487.61 million for the current quarter, according to Zacks. Five analysts have provided estimates for TEGNA’s earnings, with estimates ranging from $446.03 million to $521.00 million. TEGNA posted sales of $860.27 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 43.3%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that TEGNA will report full-year sales of $487.61 million for the current fiscal year, with estimates ranging from $1.88 billion to $2.24 billion. For the next financial year, analysts expect that the business will report sales of $2.20 billion per share, with estimates ranging from $2.16 billion to $2.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TEGNA.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a return on equity of 17.14% and a net margin of 11.90%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS.
A number of analysts have weighed in on the company. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a research report on Thursday, July 13th. Benchmark Co. reaffirmed a “buy” rating and issued a $20.00 price target on shares of TEGNA in a research report on Friday, June 16th. ValuEngine raised TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. TheStreet cut TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price target on shares of TEGNA in a research report on Thursday, June 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.44.
Shares of TEGNA (NYSE:TGNA) opened at 13.37 on Friday. The company’s 50 day moving average price is $14.70 and its 200 day moving average price is $21.43. TEGNA has a one year low of $13.25 and a one year high of $26.65. The stock has a market capitalization of $2.87 billion, a P/E ratio of 7.37 and a beta of 1.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 annualized dividend and a dividend yield of 2.09%. TEGNA’s dividend payout ratio is presently 16.97%.
Several institutional investors have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its position in TEGNA by 1,970.3% in the second quarter. Federated Investors Inc. PA now owns 100,080 shares of the company’s stock valued at $1,443,000 after buying an additional 95,246 shares in the last quarter. BB&T Securities LLC acquired a new position in TEGNA during the second quarter valued at $239,000. Three Peaks Capital Management LLC acquired a new position in TEGNA during the second quarter valued at $10,757,000. First Personal Financial Services acquired a new position in TEGNA during the second quarter valued at $192,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in TEGNA during the second quarter valued at $526,000. 86.66% of the stock is owned by institutional investors and hedge funds.
TEGNA Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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