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Research – Tegna (TGNA) – Raising price target

Media and Marketing
0 min read

Friday, May 10, 2019

Tegna, Inc. (TGNA)

Eye on 2020.

TEGNA Inc., a media company, operates a portfolio of broadcast stations and digital sites; and provides marketing service solutions for businesses. The company operates 46 television stations in 38 markets that produce local programming, such as news, sports, and entertainment. Its marketing services business provides solutions for clients on multiple channels, including broadcast, online, and OTT. 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating. 

  • First quarter results better than
    expected. 
    Revenues were in line with expectations, $516.7 million versus our estimate of $514.7 million, while cash flow (EBITDA) was better than expected at $149.2 million versus our $143.6 million estimate. The results benefited from stronger than expected Subscription revenue, up a strong 17.5% to $241.6 million. 
  • Q2 guidance better than expected. Total company revenue is expected to increase low single digits with total company expenses to be up mid single digits. We are raisin… 




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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.
 

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