TEGNA Inc (NYSE: TGNA) has reported earnings for its second fiscal quarter (ending June 30) of $0.48 versus $0.92 for the same period a year ago — a decline of -48%. This result fell short of the consensus estimate of $0.49 by $-0.00. For the latest four quarters through June 30, E.P.S. were $2.44 versus $2.99 for the same period a year ago — a decline of -18%.
Recent Price Action
On 8/7/24, TEGNA Inc (NYSE: TGNA) stock declined modestly by -1.6%, closing at $14.29. However, below average trading volume at 74% of normal accompanied the decline. Relative to the market the stock has been weak over the last nine months and has declined -10.4% during the last week.
Current PriceTarget Research Rating
TGNA is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
TEGNA has a current Value Trend Rating of C (Low Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. TEGNA has a good Appreciation Score of 80 but a poor Power Rating of 19, producing the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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