Broadcasting and digital media company TEGNA (NYSE:TGNA) will be reporting earnings tomorrow morning. Here's what to expect.
TEGNA missed analysts' revenue expectations by 3.3% last quarter, reporting revenues of $725.9 million, down 20.9% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is TEGNA a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting TEGNA's revenue to decline 2.9% year on year to $718.9 million, improving from the 4.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.44 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at TEGNA's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 5.8%, meeting analysts' expectations, and Royal Caribbean (NYSE:RCL) reported revenues up 29.2%, topping estimates by 1.1%. Paramount traded down 7.2% following the results while Royal Caribbean was up 2.8%.
Read the full analysis of Paramount's and Royal Caribbean's results on StockStory.
Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. TEGNA is up 4% during the same time and is heading into earnings with an average analyst price target of $18.2 (compared to the current share price of $14.71).
