TEGNA Inc. Expected to Earn Q4 2024 Earnings of $1.29 Per Share (NYSE:TGNA)

TEGNA Inc. (NYSE:TGNA) – Stock analysts at Barrington Research lifted their Q4 2024 earnings per share (EPS) estimates for shares of TEGNA in a report issued on Wednesday, May 8th. Barrington Research analyst J. Goss now forecasts that the company will earn $1.29 per share for the quarter, up from their prior forecast of $1.27. The consensus estimate for TEGNA’s current full-year earnings is $3.14 per share. Barrington Research also issued estimates for TEGNA’s Q4 2025 earnings at $0.75 EPS.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $714.30 million for the quarter, compared to analyst estimates of $718.86 million. TEGNA had a return on equity of 12.41% and a net margin of 16.38%. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis.

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

TEGNA Price Performance

Shares of NYSE TGNA opened at $15.03 on Friday. The stock’s 50 day moving average price is $14.22 and its 200-day moving average price is $14.83. The company has a market capitalization of $2.65 billion, a PE ratio of 6.65 and a beta of 0.50. TEGNA has a twelve month low of $13.18 and a twelve month high of $17.37. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.14.

TEGNA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, June 7th. This is a positive change from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a yield of 3.33%. TEGNA’s dividend payout ratio is presently 19.91%.

Insider Transactions at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.70, for a total value of $643,125.00. Following the sale, the chief executive officer now directly owns 725,651 shares in the company, valued at $10,667,069.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On TEGNA

A number of large investors have recently added to or reduced their stakes in TGNA. Parallel Advisors LLC lifted its stake in TEGNA by 142.1% during the 4th quarter. Parallel Advisors LLC now owns 1,675 shares of the company’s stock valued at $26,000 after acquiring an additional 983 shares during the period. CWM LLC raised its holdings in TEGNA by 389.0% in the 1st quarter. CWM LLC now owns 1,873 shares of the company’s stock valued at $28,000 after acquiring an additional 1,490 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in TEGNA during the first quarter worth $28,000. Covestor Ltd increased its stake in shares of TEGNA by 94.3% in the 3rd quarter. Covestor Ltd now owns 2,741 shares of the company’s stock worth $40,000 after acquiring an additional 1,330 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in TEGNA during the first quarter worth about $46,000. 92.19% of the stock is currently owned by institutional investors.

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.