TEGNA (NYSE:TGNA) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

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

TEGNA Price Performance

Shares of NYSE:TGNA traded down $0.49 on Friday, reaching $18.83. The company's stock had a trading volume of 3,444,783 shares, compared to its average volume of 1,524,076. The company has a 50-day simple moving average of $15.61 and a 200 day simple moving average of $14.79. TEGNA has a 52-week low of $12.35 and a 52-week high of $19.62. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $3.12 billion, a P/E ratio of 6.65 and a beta of 0.49.

Analysts Set New Price Targets

Separately, Benchmark increased their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total transaction of $347,000.00. Following the sale, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 50,016 shares of company stock valued at $757,218. Insiders own 0.88% of the company's stock.

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.