TEGNA Inc. (NYSE:TGNA) – Investment analysts at Barrington Research boosted their FY2018 earnings per share estimates for shares of TEGNA in a report released on Wednesday, May 16th. Barrington Research analyst J. Goss now expects that the company will post earnings per share of $1.75 for the year, up from their prior estimate of $1.65. Barrington Research currently has a “Buy” rating and a $18.00 price objective on the stock. Barrington Research also issued estimates for TEGNA’s Q4 2018 earnings at $0.65 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.42 EPS and FY2020 earnings at $1.95 EPS.
TGNA has been the topic of several other research reports. Barclays set a $12.00 price objective on shares of TEGNA and gave the company a “sell” rating in a research note on Sunday, March 4th. Noble Financial reissued a “buy” rating on shares of TEGNA in a research note on Friday, March 2nd. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of TEGNA in a research note on Thursday, February 22nd. Royal Bank of Canada reissued a “hold” rating and set a $14.00 price objective on shares of TEGNA in a research note on Tuesday, April 3rd. Finally, B. Riley reduced their price objective on shares of TEGNA from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. TEGNA has an average rating of “Hold” and a consensus target price of $15.09.
TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $502.10 million for the quarter, compared to the consensus estimate of $497.35 million. TEGNA had a net margin of 23.56% and a return on equity of 27.89%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share.
Institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in TEGNA during the 4th quarter valued at $104,000. Amundi Pioneer Asset Management Inc. acquired a new stake in TEGNA during the 4th quarter valued at $129,000. Quantbot Technologies LP acquired a new stake in TEGNA during the 1st quarter valued at $137,000. Conning Inc. acquired a new stake in TEGNA during the 4th quarter valued at $147,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in TEGNA during the 1st quarter valued at $148,000. 98.90% of the stock is owned by institutional investors.
In other news, COO Lynn B. Trelstad sold 3,112 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total value of $39,989.20. Following the completion of the sale, the chief operating officer now owns 24,152 shares of the company’s stock, valued at $310,353.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neal Shapiro sold 12,385 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $12.57, for a total transaction of $155,679.45. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, June 7th. TEGNA’s dividend payout ratio is currently 25.93%.
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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