TEGNA (NYSE:TGNA – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. TEGNA had a return on equity of 20.19% and a net margin of 16.41%. The firm had revenue of $774.30 million during the quarter, compared to analysts’ expectations of $765.83 million. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect TEGNA to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.
TEGNA Price Performance
TGNA opened at $21.20 on Friday. The stock has a 50-day moving average price of $20.88 and a 200-day moving average price of $21.41. TEGNA has a 12-month low of $16.42 and a 12-month high of $23.04. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $4.72 billion, a P/E ratio of 9.46 and a beta of 0.81.
TEGNA Dividend Announcement
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of TEGNA by 45.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,845,601 shares of the company’s stock worth $63,741,000 after acquiring an additional 895,390 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of TEGNA by 555,167.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,554,228 shares of the company’s stock worth $57,215,000 after acquiring an additional 2,553,768 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of TEGNA by 164.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,705,949 shares of the company’s stock worth $38,213,000 after acquiring an additional 1,061,047 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of TEGNA by 128.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,075,800 shares of the company’s stock worth $24,098,000 after acquiring an additional 605,500 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in shares of TEGNA by 363.5% in the 1st quarter. Gabelli Funds LLC now owns 861,901 shares of the company’s stock worth $19,307,000 after acquiring an additional 675,964 shares in the last quarter. Institutional investors own 89.25% of the company’s stock.
Wall Street Analyst Weigh In
TGNA has been the subject of a number of recent research reports. Argus lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Huber Research raised TEGNA from an “underweight” rating to an “overweight” rating in a research note on Monday, June 6th. Wells Fargo & Company lowered TEGNA from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $23.00 to $24.00 in a research note on Wednesday, May 4th. Finally, StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.50.
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.
- Get a free copy of the StockNews.com research report on TEGNA (TGNA)
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