Wall Street analysts expect TEGNA Inc. (TGNA) to post quarterly earnings of $0.34 per share in its upcoming report, which indicates a year-over-year decline of 24.4%. Revenues are expected to be $677.17 million, down 5.2% from the year-ago quarter.
The current level reflects a downward revision of 5.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific TEGNA metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Political' will likely reach $5.30 million. The estimate indicates a year-over-year change of -81%.
Analysts predict that the 'Revenues- Subscription' will reach $367.46 million. The estimate points to a change of -2.1% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenues- Advertising & Marketing Services' of $291.96 million. The estimate indicates a change of -2.3% from the prior-year quarter.
It is projected by analysts that the 'Revenues- Other' will reach $12.45 million. The estimate suggests a change of +0.3% year over year.
View all Key Company Metrics for TEGNA here>>>
TEGNA shares have witnessed a change of +4.8% in the past month, in contrast to the Zacks S&P 500 composite's +10.6% move. With a Zacks Rank #3 (Hold), TGNA is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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TEGNA Inc. (TGNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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