TEGNA Inc. (TGNA) Expected to Announce Quarterly Sales of $532.60 Million

Brokerages expect TEGNA Inc. (NYSE:TGNA) to report $532.60 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for TEGNA’s earnings, with the lowest sales estimate coming in at $529.20 million and the highest estimate coming in at $536.00 million. TEGNA reported sales of $524.08 million in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is expected to report its next earnings report before the market opens on Tuesday, August 6th.

On average, analysts expect that TEGNA will report full-year sales of $2.15 billion for the current year, with estimates ranging from $2.12 billion to $2.19 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.52 billion, with estimates ranging from $2.51 billion to $2.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for TEGNA.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 18.91% and a return on equity of 30.61%. The company had revenue of $516.80 million during the quarter, compared to analysts’ expectations of $512.45 million. During the same period in the prior year, the company posted $0.33 earnings per share. TEGNA’s revenue for the quarter was up 2.9% compared to the same quarter last year.

TGNA has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of TEGNA from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Noble Financial set a $20.00 price objective on shares of TEGNA and gave the stock a “buy” rating in a research report on Friday, May 10th. Barrington Research reiterated a “buy” rating and set a $17.00 price objective on shares of TEGNA in a research report on Friday, March 8th. Evercore ISI upgraded shares of TEGNA from an “in-line” rating to an “outperform” rating in a research report on Monday, March 25th. Finally, ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.43.

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of TEGNA by 97.4% in the third quarter. JPMorgan Chase & Co. now owns 1,112,667 shares of the company’s stock valued at $13,307,000 after buying an additional 548,997 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of TEGNA by 1.6% in the fourth quarter. Bank of Montreal Can now owns 74,046 shares of the company’s stock valued at $805,000 after buying an additional 1,165 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of TEGNA by 1.1% in the fourth quarter. Arizona State Retirement System now owns 154,530 shares of the company’s stock valued at $1,680,000 after buying an additional 1,680 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of TEGNA by 65.8% in the fourth quarter. Rhumbline Advisers now owns 655,802 shares of the company’s stock valued at $7,129,000 after buying an additional 260,161 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of TEGNA by 11.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 161,871 shares of the company’s stock valued at $1,760,000 after buying an additional 17,178 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

TGNA opened at $15.62 on Friday. TEGNA has a twelve month low of $10.24 and a twelve month high of $16.57. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.12. The firm has a market cap of $3.41 billion, a PE ratio of 8.54, a PEG ratio of 1.25 and a beta of 1.53.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, June 6th. TEGNA’s payout ratio is 15.30%.

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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Earnings History and Estimates for TEGNA (NYSE:TGNA)

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