Momentum Stock Watch: TEGNA Inc. (TGNA)

Company Profile:

TEGNA Inc. operates as a media company in the United States. The company operates television stations that deliver television programming and digital content. It offers news content to consumers across various platforms, including online, mobile, and social platforms; owns and operates multicast networks under the names True Crime Network, Quest, and Twist that offer on-demand episodes of shows; and operates VAULT Studios, which provides true crime and investigative content in the form of podcasts and original television programs. The company also provides solutions for advertisers through TEGNA Marketing Solutions (TMS). TMS delivers results for advertisers across television and digital platforms, as well as over-the-top (OTT) platforms, including Premion OTT advertising network. As of February 28, 2022, it operated 64 television stations in 51 markets. The company was formerly known as Gannett Co., Inc. and changed its name to TEGNA Inc. in June 2015. TEGNA Inc. was founded in 1906 and is headquartered in Tysons, Virginia.

Recent News:

On May 17, 2022, ts shareholders voted to adopt the Agreement and Plan of Merger, dated as of February 22, 2022, pursuant to which TEGNA will be acquired by an affiliate of Standard General L.P.

The company reported that total revenue was a first quarter record of $774 million, up six percent year-over-year. TEGNA achieved net income of $134 million in the first quarter on a GAAP basis, or $133 million on a non-GAAP basis.

On April 28, 2022, the booard of Directors declared a regular quarterly dividend of 9.5 cents per share, payable on July 1, 2022, to stockholders of record as of the close of business on June 3, 2022.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects:

Price to Book Value – P/BV, a ratio used to compare book value to its current market price, to gauge whether a stock is valued properly.

@@@@@

Price to Earnings – PE, the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS).

@@@@@

Discounted cash flow – DCF, a valuation method used to estimate the value of an investment based on its expected future cash flows.

@@@@@

Return on Assets – ROA, indicates how profitable a company is in relation to its total assets, how efficiently uses assets to generate a profit.

@@@@@

Return on Equity – ROE, a measure of financial performance calculated by dividing net income by equity. a gauge of profitability and efficiency.

@@@@@

Debt to Equity – evaluate financial leverage, reflects the ability of equity to cover outstanding debts in the event of a business downturn.

@@@@@

Conclusion:

TGNA receives outperform rating in price to book value, price to earnings, discounted cash flow and debt to equity. Technical indicators signal the bullish signs, as there is a bullish crossover in the Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 43.3 with positive bias. We rate TEGNA Inc. (TGNA) a BUY.