TEGNA Company Profile (NYSE:TGNA)

TEGNA trades on the New York Stock Exchange (NYSE) under the ticker symbol "TGNA."

TEGNA declared a quarterly dividend on Wednesday, July 26th. Investors of record on Friday, September 8th will be paid a dividend of $0.07 per share on Monday, October 2nd. This represents a $0.28 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, September 7th. View TEGNA's Dividend History.

TEGNA announced that its board has initiated a stock repurchase program on Wednesday, September 20th 2017, which permits the company to buyback $300,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 11.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

TEGNA Inc. (NYSE:TGNA) announced its earnings results on Tuesday, August, 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The business earned $489.36 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.50 EPS. View TEGNA's Earnings History.

TEGNA is scheduled to release their next quarterly earnings announcement on Wednesday, November, 1st 2017. View Earnings Estimates for TEGNA.

9 analysts have issued 1-year price targets for TEGNA's stock. Their forecasts range from $13.00 to $36.00. On average, they anticipate TEGNA's share price to reach $19.29 in the next year. View Analyst Ratings for TEGNA.

Here are some recent quotes from research analysts about TEGNA stock:

• 1. According to Zacks Investment Research, "TEGNA seems to be soaring high, post the completion of its two strategic business moves. On one side, TEGNA plans to use the $250 million of gross proceeds from the sale of its web portal CareerBuilder, to clear off existing debt. While the spin-off of its auto-sales website, Cars.com into two publicly traded companies: TEGNA and Cars.com, should increase TEGNA's growth opportunities and appropriate market valuations. Moreover, TEGNA’s media business is faring well, evident from the revenue growth. However, TEGNA’s operation in a competitive broadcast TV industry remains a concern. The U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. Over the past three months, the stock price declined 15.7% as against the industry’s gain of 5.7%." (9/13/2017)
• 2. Benchmark Co. analysts commented, "We understand that new CEO David Lougee threw cold water on the idea of selling the Company at their analyst day in May, but pressure from shareholders and possible interest from Gray (GTN:Buy) and/or Nexstar (NXST: Buy) could lead to all options being put on the table. With Sinclair locked up for the next 12 months, the only acquirer of size would appear to be Nexstar. However, given increasingly open rhetoric around needing to participate more aggressively in the M&A environment from Gray Television, we wouldn’t be surprised to see a reverse merger attempt via a predominantly stock transaction. The big question, and possibly the biggest stumbling block, centers on potential synergies, as we believe the retrans gap between TGNA and NXST has likely closed to ~10% given the abundance of market deals (we would assume that gap is even smaller for Gray). With that said, we note that only 1/3 of the final synergies in Nexstar’s Media General transaction came from retrans, with the balance coming from OpEx improvements. In Nexstar’s case, while we believe there would be sufficient synergies, we would expect management to carefully weigh an acquisition of that magnitude vs. repurchasing their own stock, much like they did in evaluating Tribune. We would also expect any potential acquires with station overlap to wait to see how the DOJ handles any potential divestitures in SBGI-TRCO before making a bid." (6/16/2017)
• 3. FBR & Co analysts commented, "We are making slight changes to our TEGNA model after the company’s recent 10-K filing. In the process of updating, we adjusted a tax rate calculation, and we are bumping up our 2018 EPS estimate $0.08 to $2.17. Our $30 SOTP-based price target is unchanged." (3/8/2017)
• 4. Jefferies Group LLC analysts commented, "TGNA's 1Q guidance for media rev came in below our already tempered expectations. However, commentary regarding regulatory changes and stronger retrans growth remain the key themes for investors. While we continue to expect strength for the broadcasters given M&A expectations in 2017, we maintain our neutral rating given concerns regarding core and growth of Cars/CB." (2/28/2017)

TEGNA saw a decrease in short interest in the month of August. As of August 15th, there was short interest totalling 14,378,060 shares, a decrease of 20.8% from the July 31st total of 18,148,666 shares. Based on an average daily trading volume, of 2,995,686 shares, the days-to-cover ratio is presently 4.8 days. Approximately 6.7% of the company's shares are sold short.

Some companies that are related to TEGNA include H&R Block (HRB), SJM Holdings (SJMHF), Six Flags Entertainment Corporation New (SIX), Mattel (MAT), The Madison Square Garden Company (MSG), Brunswick Corporation (BC), Bright Horizons Family Solutions (BFAM), International Game Technology (IGT), Carter's (CRI), Pool Corporation (POOL), Cinemark Holdings (CNK), Mediaset SpA (MDIUY), Cable One (CABO), Liberty Global PLC (LILA), Grand Canyon Education (LOPE), Columbia Sportswear Company (COLM), Liberty Global PLC (LILAK) and Skechers U.S.A. (SKX).

TEGNA's management team includes the folowing people:

• Marjorie Magner, Chairman of the Board
• David T. Lougee, President, Chief Executive Officer, Director
• Victoria D. Harker, Chief Financial Officer, Executive Vice President
• Jeffery Newman, Chief Human Resource Officer, Senior Vice President
• Todd A. Mayman, Executive Vice President, Chief Legal and Administrative Officer
• Lynn Beall, Executive Vice President, Chief Operating Officer, Media Operations
• W. Edmond Busby, Senior Vice President - Strategy
• Anne Bentley, Vice President, Chief Communications Officer
• Adam Ostrow, Chief Digital Officer
• Jennifer Dulski, Director

TEGNA's stock is owned by many different of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (8.39%), BlackRock Inc. (8.19%), Victory Capital Management Inc. (6.00%), Diamond Hill Capital Management Inc. (5.18%), New South Capital Management Inc. (4.44%) and Fairpointe Capital LLC (3.94%). Company insiders that own TEGNA stock include Gracia C Martore, Howard D Elias, John A Williams, Todd A Mayman and William A Behan. View Institutional Ownership Trends for TEGNA.

TEGNA's stock was sold by a variety of institutional investors in the last quarter, including Vanguard Group Inc., State Street Corp, Prudential Financial Inc., AXA, Contrarius Investment Management Ltd, Northern Trust Corp, Swiss National Bank and UBS Asset Management Americas Inc.. Company insiders that have sold TEGNA stock in the last year include Gracia C Martore, Howard D Elias, John A Williams, Todd A Mayman and William A Behan. View Insider Buying and Selling for TEGNA.

TEGNA's stock was bought by a variety of institutional investors in the last quarter, including Victory Capital Management Inc., Canyon Capital Advisors LLC, BlackRock Inc., Artisan Partners Limited Partnership, Diamond Hill Capital Management Inc., Arrowstreet Capital Limited Partnership, Laurion Capital Management LP and Vaughan Nelson Investment Management L.P.. View Insider Buying and Selling for TEGNA.

Shares of TEGNA can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of TEGNA stock can currently be purchased for approximately $12.87.