TEGNA (NYSE:TGNA) Issues Quarterly Earnings Results

TEGNA (NYSE:TGNA) posted its quarterly earnings data on Thursday. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11, Briefing.com reports. The firm had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. TEGNA updated its Q4 2024 guidance to EPS.

TEGNA Stock Down 2.4 %

Shares of TGNA stock traded down $0.47 during trading on Friday, reaching $18.85. The company’s stock had a trading volume of 1,871,200 shares, compared to its average volume of 2,250,603. The business has a fifty day moving average price of $15.51 and a 200-day moving average price of $14.75. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 7.88 and a beta of 0.49. TEGNA has a one year low of $12.35 and a one year high of $19.62.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday.

Insiders Place Their Bets

In related news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, the chief operating officer now directly owns 154,617 shares in the company, valued at approximately $2,535,718.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 50,016 shares of company stock valued at $757,218. 0.88% of the stock is currently owned by corporate insiders.

About TEGNA

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.