Equities analysts expect TEGNA Inc. (NYSE:TGNA) to post sales of $714.69 million for the current quarter, Zacks reports. Two analysts have provided estimates for TEGNA's earnings. The lowest sales estimate is $713.00 million and the highest is $716.37 million. TEGNA reported sales of $684.19 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The business is expected to report its next earnings results before the market opens on Thursday, May 6th.
According to Zacks, analysts expect that TEGNA will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.85 billion to $2.92 billion. For the next year, analysts anticipate that the business will report sales of $3.32 billion, with estimates ranging from $3.28 billion to $3.36 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that follow TEGNA.
TEGNA (NYSE:TGNA) last released its earnings results on Monday, March 1st. The company reported $1.16 EPS for the quarter, meeting the consensus estimate of $1.16. TEGNA had a net margin of 11.97% and a return on equity of 21.02%. The firm had revenue of $938.00 million for the quarter, compared to analyst estimates of $934.10 million. During the same period last year, the firm earned $0.47 EPS. The business's quarterly revenue was up 35.2% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded TEGNA from a "hold" rating to a "strong-buy" rating and set a $18.00 target price for the company in a research note on Tuesday, January 12th. Huber Research downgraded TEGNA from an "overweight" rating to an "underweight" rating in a research report on Wednesday, December 16th. Finally, Barrington Research lifted their target price on TEGNA from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of "Buy" and a consensus price target of $15.50.
Institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. grew its holdings in shares of TEGNA by 11.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 624,118 shares of the company's stock worth $8,707,000 after purchasing an additional 62,665 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in TEGNA by 22.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 35,101 shares of the company's stock worth $490,000 after buying an additional 6,500 shares during the period. Dimensional Fund Advisors LP grew its holdings in TEGNA by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,899 shares of the company's stock worth $85,845,000 after acquiring an additional 141,462 shares during the last quarter. Hudson Bay Capital Management LP increased its position in TEGNA by 898.6% in the 4th quarter. Hudson Bay Capital Management LP now owns 200,105 shares of the company's stock valued at $2,791,000 after acquiring an additional 180,066 shares during the period. Finally, Norges Bank bought a new position in shares of TEGNA during the fourth quarter valued at $41,066,000. Hedge funds and other institutional investors own 88.95% of the company's stock.
Shares of NYSE:TGNA opened at $19.90 on Thursday. TEGNA has a 1 year low of $9.66 and a 1 year high of $20.78. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. 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 company's 50 day simple moving average is $19.05 and its 200 day simple moving average is $15.30.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be given a dividend of $0.095 per share. The ex-dividend date is Thursday, June 3rd. This represents a $0.38 dividend on an annualized basis and a yield of 1.91%. This is a positive change from TEGNA's previous quarterly dividend of $0.07. TEGNA's payout ratio is currently 20.29%.
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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