TEGNA Inc. (TGNA) Scheduled to Post Earnings on Wednesday
TEGNA Inc. (NYSE:TGNA) is scheduled to release its earnings data before the market opens on Wednesday, November 8th. Analysts expect TEGNA to post earnings of $0.22 per share for the quarter.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $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. (NYSE TGNA) opened at 12.23 on Wednesday. TEGNA Inc. has a one year low of $12.01 and a one year high of $26.65. The company’s 50-day moving average is $12.78 and its 200-day moving average is $14.02. The firm has a market capitalization of $2.63 billion, a P/E ratio of 14.95 and a beta of 1.73.
TEGNA declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 19th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts have weighed in on TGNA shares. Noble Financial restated a “buy” rating on shares of TEGNA in a research note on Thursday, July 13th. ValuEngine upgraded TEGNA from a “hold” rating to a “buy” rating in a research note on Thursday, July 27th. Guggenheim started coverage on TEGNA in a research note on Wednesday, October 18th. They set a “buy” rating and a $17.00 price objective on the stock. TheStreet cut TEGNA from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Finally, FBR & Co restated a “hold” rating and set a $15.00 price objective on shares of TEGNA in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus 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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