TEGNA (NYSE:TGNA) Issues Q1 2021 Earnings Guidance

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TEGNA (NYSE:TGNA) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.520-0.520 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.450. The company issued revenue guidance of $727 million-$727 million, compared to the consensus revenue estimate of $711.75 million.

Shares of TGNA traded down $0.64 during mid-day trading on Tuesday, reaching $19.73. 1,603,742 shares of the company’s stock were exchanged, compared to its average volume of 1,758,271. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market capitalization of $4.35 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The business’s fifty day simple moving average is $20.17 and its 200-day simple moving average is $16.45. TEGNA has a 52-week low of $9.66 and a 52-week high of $21.51.

TEGNA (NYSE:TGNA) last announced its earnings results on Monday, March 1st. The company reported $1.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.16. The business had revenue of $938.00 million for the quarter, compared to analyst estimates of $934.10 million. TEGNA had a net margin of 11.97% and a return on equity of 21.02%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. Equities research analysts predict that TEGNA will post 2.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.93%. This is an increase from TEGNA’s previous quarterly dividend of $0.07. TEGNA’s dividend payout ratio (DPR) is 20.29%.

A number of equities research analysts have commented on the company. Barrington Research raised their target price on TEGNA from $18.00 to $20.00 and gave the company an outperform rating in a report on Friday, January 8th. Zacks Investment Research raised TEGNA from a hold rating to a strong-buy rating and set a $18.00 price target for the company in a research note on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $16.00.

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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