Revenue Update on Tegna Inc(NYSE:TGNA)

Tegna Inc(NYSE:TGNA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $811.78M. Analysts estimated a revenue of $814.56M. Earnings per share were $0.50. Analysts had estimated an EPS of $0.47.

In a different note, On Jun 10, 2016, Evercore ISI Group said it Downgrades its rating on Tegna Inc. The shares have been rated ‘Hold’ by the firm.

Tegna Inc (TGNA) shares turned negative on Fridays trading session with the shares closing down -0.22 points or -0.99% at a volume of 18,32,678. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.05. The peak price level was also seen at $22.05 while the days lowest was $21.6. Finally the shares closed at $21.9. The 52-week high of the shares is $29.465 while the 52-week low is $21.11. According to the latest information available, the market cap of the company is $4,765 M.

TEGNA Inc. formerly Gannett Co. Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company’s Digital business segment includes CareerBuilder and Shoplocal.

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