TEGNA (NYSE:TGNA) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

TEGNA (NYSE:TGNA) issued its quarterly earnings data on Wednesday. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02, Briefing.com reports. The company had revenue of $714.30 million during the quarter, compared to analysts’ expectations of $718.86 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. TEGNA’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share.

TEGNA Trading Up 0.5 %

Shares of TGNA traded up $0.08 during mid-day trading on Thursday, reaching $14.76. The company’s stock had a trading volume of 556,707 shares, compared to its average volume of 2,117,916. The stock has a market cap of $2.60 billion, a PE ratio of 6.50 and a beta of 0.50. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.14. TEGNA has a 52 week low of $13.18 and a 52 week high of $17.37. The company’s fifty day moving average price is $14.20 and its two-hundred day moving average price is $14.83.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.114 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.09%. TEGNA’s payout ratio is 19.91%.

Insider Transactions at TEGNA

In related news, CEO David T. Lougee sold 43,750 shares of TEGNA 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 transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at $10,667,069.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several research analyst reports. Benchmark dropped their target price on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Finally, Wells Fargo & Company dropped their target price on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th.

About TEGNA

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.