$532.60 Million in Sales Expected for TEGNA Inc. (NYSE:TGNA) This Quarter
Brokerages predict that TEGNA Inc. (NYSE:TGNA) will report $532.60 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TEGNA’s earnings. The highest sales estimate is $536.00 million and the lowest is $529.20 million. TEGNA posted sales of $524.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The firm is expected to issue 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 financial year, with estimates ranging from $2.12 billion to $2.19 billion. For the next year, analysts expect that the business will post sales of $2.52 billion, with estimates ranging from $2.51 billion to $2.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow TEGNA.
TEGNA (NYSE:TGNA) last announced its earnings results on Thursday, May 9th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $516.80 million for the quarter, compared to the consensus estimate of $512.45 million. TEGNA had a net margin of 18.91% and a return on equity of 30.61%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS.
A number of large investors have recently added to or reduced their stakes in the business. Allstate Corp acquired a new position in shares of TEGNA during the first quarter worth approximately $195,000. BlueMountain Capital Management LLC lifted its position in shares of TEGNA by 171.5% during the first quarter. BlueMountain Capital Management LLC now owns 34,163 shares of the company’s stock worth $482,000 after purchasing an additional 21,579 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of TEGNA during the first quarter worth approximately $159,000. BlueCrest Capital Management Ltd acquired a new position in shares of TEGNA during the first quarter worth approximately $331,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of TEGNA by 31.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 123,566 shares of the company’s stock worth $1,742,000 after purchasing an additional 29,400 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
TGNA traded down $0.11 during trading on Friday, hitting $14.81. The stock had a trading volume of 4,519,798 shares, compared to its average volume of 2,491,666. The company has a market capitalization of $3.35 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53. TEGNA has a 12 month low of $10.24 and a 12 month high of $16.57. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.61 and a quick ratio of 1.61.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.07 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.28 dividend on an annualized basis and a yield of 1.89%. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.
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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