Wall Street analysts expect TEGNA Inc. (NYSE:TGNA) to report $687.73 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for TEGNA’s earnings. The highest sales estimate is $691.00 million and the lowest is $684.46 million. TEGNA reported sales of $516.75 million in the same quarter last year, which suggests a positive year over year growth rate of 33.1%. The firm is scheduled to report its next earnings report on Thursday, May 14th.
According to Zacks, analysts expect that TEGNA will report full-year sales of $2.98 billion for the current fiscal year, with estimates ranging from $2.97 billion to $2.98 billion. For the next financial year, analysts anticipate that the business will report sales of $2.91 billion, with estimates ranging from $2.90 billion to $2.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TEGNA.
TEGNA (NYSE:TGNA) last announced its earnings results on Tuesday, February 11th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. TEGNA had a return on equity of 20.01% and a net margin of 12.45%. The business had revenue of $693.90 million during the quarter, compared to analyst estimates of $690.01 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year.
Shares of NYSE:TGNA traded up $0.71 during trading hours on Monday, hitting $11.32. 6,206,916 shares of the company’s stock traded hands, compared to its average volume of 3,558,830. TEGNA has a 1 year low of $9.61 and a 1 year high of $18.31. The business has a fifty day moving average price of $15.27 and a 200-day moving average price of $15.82. The firm has a market capitalization of $2.35 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.48 and a beta of 1.53. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.96 and a quick ratio of 1.96.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.28 dividend on an annualized basis and a yield of 2.47%. TEGNA’s dividend payout ratio is currently 20.29%.
Institutional investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. increased its position in shares of TEGNA by 7.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,903 shares of the company’s stock worth $164,000 after purchasing an additional 710 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of TEGNA by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 282,446 shares of the company’s stock worth $4,714,000 after purchasing an additional 815 shares in the last quarter. Texas Permanent School Fund increased its position in shares of TEGNA by 0.6% during the fourth quarter. Texas Permanent School Fund now owns 148,364 shares of the company’s stock worth $2,476,000 after purchasing an additional 901 shares in the last quarter. Comerica Bank increased its position in shares of TEGNA by 0.8% during the fourth quarter. Comerica Bank now owns 125,861 shares of the company’s stock worth $2,140,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of TEGNA by 2.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 56,520 shares of the company’s stock worth $943,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors own 99.60% of the company’s stock.
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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