Equities analysts expect that Tegna Inc (NYSE:TGNA) will announce sales of $500.23 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Tegna’s earnings. The lowest sales estimate is $490.39 million and the highest is $522.00 million. Tegna posted sales of $778.47 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 35.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Tegna will report full year sales of $500.23 million for the current fiscal year, with estimates ranging from $2.12 billion to $2.22 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.15 billion per share, with estimates ranging from $2.10 billion to $2.21 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tegna.
Tegna (NYSE:TGNA) last released its quarterly earnings results on Thursday, March 1st. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $480.45 million for the quarter, compared to analyst estimates of $491.79 million. Tegna had a net margin of 20.74% and a return on equity of 19.56%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share.
Tegna (NYSE TGNA) traded up $0.05 during mid-day trading on Friday, reaching $12.92. 1,215,169 shares of the company traded hands, compared to its average volume of 2,210,677. The firm has a market capitalization of $2,780.00, a price-to-earnings ratio of 9.86, a PEG ratio of 6.12 and a beta of 1.55. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.02. Tegna has a 52 week low of $11.59 and a 52 week high of $16.92.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Tegna’s payout ratio is 21.37%.
In other Tegna 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 transaction of $39,989.20. Following the transaction, the chief operating officer now directly owns 24,152 shares of the company’s stock, valued at $310,353.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Tegna in the fourth quarter worth about $297,000. Fairpointe Capital LLC lifted its stake in shares of Tegna by 10.9% in the fourth quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock worth $160,143,000 after buying an additional 1,119,057 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Tegna in the fourth quarter worth about $1,916,000. Element Capital Management LLC purchased a new position in shares of Tegna in the fourth quarter worth about $9,331,000. Finally, Vident Investment Advisory LLC lifted its stake in shares of Tegna by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 179,016 shares of the company’s stock worth $2,521,000 after buying an additional 10,934 shares in the last quarter. 99.91% of the stock is currently owned by hedge funds and other institutional investors.
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Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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