Brokerages expect that TEGNA Inc. (NYSE:TGNA) will announce $0.37 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for TEGNA’s earnings. The highest EPS estimate is $0.40 and the lowest is $0.33. TEGNA posted earnings per share of $0.23 in the same quarter last year, which would indicate a positive year over year growth rate of 60.9%. The company is expected to report its next earnings report before the market opens on Wednesday, November 14th.

Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for TEGNA.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $524.08 million for the quarter, compared to analyst estimates of $516.52 million. TEGNA had a net margin of 25.33% and a return on equity of 27.72%.

TGNA has been the topic of several research reports. Argus dropped their price objective on shares of TEGNA from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, May 30th. ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded shares of TEGNA from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Monday, July 9th. Evercore ISI initiated coverage on shares of TEGNA in a research note on Tuesday, July 31st. They set an “in-line” rating and a $14.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $12.00 price objective on shares of TEGNA in a research note on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. TEGNA presently has an average rating of “Hold” and a consensus target price of $14.50.

TGNA traded up $0.08 on Thursday, hitting $11.88. 1,357,527 shares of the company’s stock were exchanged, compared to its average volume of 1,566,002. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 0.34 and a beta of 1.66. TEGNA has a twelve month low of $10.00 and a twelve month high of $15.60. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.80.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.36%. TEGNA’s payout ratio is currently 25.93%.

Large investors have recently made changes to their positions in the business. Fox Run Management L.L.C. bought a new position in shares of TEGNA in the second quarter valued at approximately $112,000. Trexquant Investment LP bought a new position in shares of TEGNA in the second quarter valued at approximately $115,000. Todd Asset Management LLC bought a new position in shares of TEGNA in the second quarter valued at approximately $115,000. Quantbot Technologies LP bought a new position in shares of TEGNA in the first quarter valued at approximately $137,000. Finally, Cadence Capital Management LLC bought a new position in shares of TEGNA in the second quarter valued at approximately $140,000. Institutional investors own 97.16% of the company’s stock.

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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