TEGNA (NYSE:TGNA) Issues Quarterly Earnings Results

TEGNA (NYSE:TGNA) issued its quarterly earnings data on Thursday. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11, Briefing.com reports. The business had revenue of $806.83 million for 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 revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. TEGNA updated its Q4 2024 guidance to EPS.

TEGNA Trading Down 2.5 %

Shares of TEGNA stock traded down $0.49 during trading on Friday, hitting $18.83. The stock had a trading volume of 3,420,394 shares, compared to its average volume of 2,257,742. 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 capitalization of $3.12 billion, a PE ratio of 7.88 and a beta of 0.49. TEGNA has a 1 year low of $12.35 and a 1 year high of $19.62. The stock has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $14.75.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their target price on 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 other news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 50,016 shares of company stock worth $757,218. Corporate insiders own 0.88% of the company’s stock.

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.