TEGNA Inc. (TGNA) to Release Quarterly Earnings on Tuesday
TEGNA Inc. (NYSE:TGNA) is set to announce its earnings results before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.26 per share for the quarter.
TEGNA (NYSE:TGNA) last released its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million for the quarter, compared to analyst estimates of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, analysts expect TEGNA to post $1.09 EPS for the current fiscal year and $1.63 EPS for the next fiscal year.
TEGNA Inc. (TGNA) opened at 12.73 on Tuesday. The stock has a 50 day moving average price of $12.77 and a 200-day moving average price of $14.17. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 15.56 and a beta of 1.72. TEGNA Inc. has a 12-month low of $12.01 and a 12-month high of $26.65.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is 16.97%.
TEGNA announced that its Board of Directors has initiated a stock repurchase program on Tuesday, September 19th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 11.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Several analysts recently issued reports on the company. FBR & Co cut their price target on TEGNA from $24.00 to $16.00 and set a “mkt perform” rating on the stock in a report on Friday, July 28th. ValuEngine raised TEGNA from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $14.00 price target (down previously from $16.00) on shares of TEGNA in a report on Wednesday, August 2nd. TheStreet cut TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Finally, Noble Financial restated a “buy” rating on shares of TEGNA in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.44.
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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