TEGNA (NYSE:TGNA) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

TEGNA (NYSE:TGNA) posted its quarterly earnings data on Thursday. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11, Briefing.com reports. The business had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. TEGNA updated its Q4 2024 guidance to EPS.

TEGNA Stock Down 2.4 %

TGNA stock traded down $0.47 during midday trading on Friday, reaching $18.85. The company had a trading volume of 1,871,200 shares, compared to its average volume of 2,250,603. TEGNA has a 1 year low of $12.35 and a 1 year high of $19.62. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $3.12 billion, a P/E ratio of 7.88 and a beta of 0.49. The company has a 50 day moving average of $15.51 and a two-hundred day moving average of $14.75.

Analyst Ratings Changes

Separately, Benchmark increased their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday.

Insiders Place Their Bets

In other news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 50,016 shares of company stock worth $757,218 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

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.