TEGNA (TGNA) to Release Earnings on Wednesday

TEGNA (NYSE:TGNA) is set to issue its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

TEGNA (NYSE:TGNA) last released its earnings results on Thursday, February 29th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The firm had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $750.78 million. During the same period last year, the business earned $0.98 earnings per share. The business’s revenue was down 20.9% on a year-over-year basis. On average, analysts expect TEGNA to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

TEGNA Trading Down 0.7 %

NYSE TGNA opened at $13.64 on Wednesday. The firm’s 50 day moving average price is $14.15 and its two-hundred day moving average price is $14.83. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 6.04 and a beta of 0.50. TEGNA has a twelve month low of $13.18 and a twelve month high of $17.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a dividend of $0.114 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.46 dividend on an annualized basis and a yield of 3.34%. TEGNA’s payout ratio is presently 20.35%.

Insider Buying and Selling at TEGNA

In related news, CEO David T. Lougee sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $15.21, for a total value of $2,281,500.00. Following the completion of the sale, the chief executive officer now directly owns 636,262 shares in the company, valued at approximately $9,677,545.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.21, for a total value of $2,281,500.00. Following the transaction, the chief executive officer now directly owns 636,262 shares in the company, valued at approximately $9,677,545.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David T. Lougee sold 43,750 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TGNA shares. Wells Fargo & Company dropped their price target on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. cut their price target on TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Finally, Benchmark lowered their price target on TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

About TEGNA

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.