Factors Likely to Have Influenced Earnings Results TEGNA (NYSE:TGNA)

Earnings results for TEGNA (NYSE:TGNA)

TEGNA Inc. is expected* to report earnings on 11/09/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.6. The reported EPS for the same quarter last year was $0.27.

TEGNA last announced its quarterly earnings data on August 10th, 2020. The reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.01. The company earned $577.60 million during the quarter, compared to the consensus estimate of $571.21 million. Its revenue was up 7.6% on a year-over-year basis. TEGNA has generated $1.38 earnings per share over the last year and currently has a price-to-earnings ratio of 12.2. TEGNA has confirmed that its next quarterly earnings report will be published on Monday, November 9th, 2020. TEGNA will be holding an earnings conference call on Monday, November 9th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on TEGNA (NYSE:TGNA)

6 Wall Street analysts have issued ratings and price targets for TEGNA in the last 12 months. Their average twelve-month price target is $15.17, predicting that the stock has a possible upside of 15.16%. The high price target for TGNA is $21.00 and the low price target for TGNA is $12.00. There are currently 2 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”

TEGNA has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 4 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $15.17, TEGNA has a forecasted upside of 15.2% from its current price of $13.17. TEGNA has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: TEGNA (NYSE:TGNA)

TEGNA pays a meaningful dividend of 2.15%, higher than the bottom 25% of all stocks that pay dividends. TEGNA has only been increasing its dividend for 1 years. The dividend payout ratio of TEGNA is 20.29%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TEGNA will have a dividend payout ratio of 18.06% next year. This indicates that TEGNA will be able to sustain or increase its dividend.

Insiders buying/selling: TEGNA (NYSE:TGNA)

In the past three months, TEGNA insiders have not sold or bought any company stock. Only 0.48% of the stock of TEGNA is held by insiders. 92.38% of the stock of TEGNA is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of TEGNA (NYSE:TGNA

Earnings for TEGNA are expected to decrease by -17.55% in the coming year, from $1.88 to $1.55 per share. The P/E ratio of TEGNA is 12.19, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.83. The P/E ratio of TEGNA is 12.19, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 50.69. TEGNA has a PEG Ratio of 0.63. PEG Ratios below 1 indicate that a company could be undervalued. TEGNA has a P/B Ratio of 1.80. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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