TEGNA Inc. (NYSE:TGNA) – Barrington Research reduced their Q2 2019 earnings estimates for TEGNA in a research note issued on Wednesday, July 31st, according to Zacks Investment Research. Barrington Research analyst J. Goss now expects that the company will earn $0.32 per share for the quarter, down from their previous forecast of $0.33. Barrington Research has a “Buy” rating and a $18.00 price target on the stock. Barrington Research also issued estimates for TEGNA’s Q3 2019 earnings at $0.30 EPS and Q4 2019 earnings at $0.40 EPS.
TGNA has been the subject of a number of other research reports. ValuEngine downgraded TEGNA from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded TEGNA from a “hold” rating to a “sell” rating and set a $16.00 target price for the company. in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of TEGNA in a research report on Friday, May 10th. Cannonball Research assumed coverage on TEGNA in a research report on Wednesday, August 21st. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Noble Financial set a $20.00 target price on TEGNA and gave the stock a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.14.
TGNA stock traded up $0.10 during mid-day trading on Monday, reaching $14.10. 2,016,006 shares of the company traded hands, compared to its average volume of 2,428,342. The company has a market capitalization of $3.04 billion, a P/E ratio of 7.70, a P/E/G ratio of 1.17 and a beta of 1.46. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.94 and a quick ratio of 1.94. The company has a fifty day moving average price of $14.93 and a 200-day moving average price of $14.81. TEGNA has a 52-week low of $10.24 and a 52-week high of $16.58.
TEGNA (NYSE:TGNA) last announced its earnings results on Tuesday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. TEGNA had a return on equity of 28.43% and a net margin of 18.24%. The firm had revenue of $536.90 million during the quarter, compared to analyst estimates of $534.10 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 2.4% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, September 5th. TEGNA’s dividend payout ratio (DPR) is 15.30%.
A number of institutional investors have recently added to or reduced their stakes in TGNA. BlackRock Inc. lifted its holdings in TEGNA by 0.4% in the second quarter. BlackRock Inc. now owns 25,904,017 shares of the company’s stock valued at $392,444,000 after acquiring an additional 97,933 shares during the period. Vanguard Group Inc. lifted its holdings in TEGNA by 3.9% in the second quarter. Vanguard Group Inc. now owns 22,630,199 shares of the company’s stock valued at $342,848,000 after acquiring an additional 841,666 shares during the period. AQR Capital Management LLC lifted its holdings in TEGNA by 14.4% in the second quarter. AQR Capital Management LLC now owns 10,710,361 shares of the company’s stock valued at $159,691,000 after acquiring an additional 1,349,780 shares during the period. Standard General L.P. purchased a new stake in TEGNA in the second quarter worth about $134,378,000. Finally, LSV Asset Management grew its position in shares of TEGNA by 5.8% during the second quarter. LSV Asset Management now owns 6,629,361 shares of the company’s stock worth $100,434,000 after purchasing an additional 362,300 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.
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.