TEGNA (NYSE:TGNA - Get Free Report) posted its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.02, Briefing.com reports. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. The company had revenue of $714.30 million during the quarter, compared to the consensus estimate of $718.86 million. During the same quarter last year, the firm earned $0.47 earnings per share. The company's revenue was down 3.5% on a year-over-year basis.
TEGNA Stock Up 2.4 %
Shares of TEGNA stock traded up $0.35 during trading hours on Thursday, reaching $15.03. The company's stock had a trading volume of 2,467,426 shares, compared to its average volume of 2,139,389. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48. The stock's fifty day simple moving average is $14.20 and its two-hundred day simple moving average is $14.83. The company has a market capitalization of $2.65 billion, a P/E ratio of 6.53 and a beta of 0.50. TEGNA has a one year low of $13.18 and a one year high of $17.37.
TEGNA Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.50 annualized dividend and a yield of 3.33%. This is an increase from TEGNA's previous quarterly dividend of $0.11. TEGNA's dividend payout ratio (DPR) is presently 19.91%.
Wall Street Analysts Forecast Growth
Several research firms have commented on TGNA. Wells Fargo & Company decreased their target price on shares of TEGNA from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, February 9th. Benchmark reduced their price objective on TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. lowered their target price on TEGNA from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Friday, March 1st.
Check Out Our Latest Stock Report on TGNA
Insider Buying and Selling
In other news, CEO David T. Lougee sold 43,750 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.70, for a total value of $643,125.00. Following the completion of the sale, the chief executive officer now owns 725,651 shares in the company, valued at approximately $10,667,069.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.
About TEGNA
(
Get Free Report)
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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