How Does TEGNA Inc. (TGNA) Stack Up Right Now?

TEGNA Inc. (NYSE:TGNA) is an interesting player in the Services space, with a focus on Broadcasting – TV. The stock has been active on the tape, currently trading at $21.61, up from yesterday’s close by -0.46%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

No amount of research is complete without a bird’s eye view of the financial data. TEGNA Inc. (TGNA) currently trades with a market capitalization of $4.63B. That value represents a market adjusting for revenues that have been growing by 13.60% on a quarterly year/year basis as of the company’s last quarterly report.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For TGNA, the company currently has $107.33M of cash on the books, which is offset by $4.24B current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $663.66M over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of 0.68 on a per share basis this quarter. Perhaps, that suggests something about why 85.40% of the outstanding share supply is held by institutional investors.

Technical Analysis

Sometimes, we can understand most about a stock by simply looking at how it has been trading. Looking at the stock’s movement on the chart, TEGNA Inc. recorded a 52-week high of 25.38. It is now trading 3.67 off that level. The stock is trading 22.11 its 50-day moving average by 0.4. The stock carved out a 52-week low down at 17.91.

In recent action, TEGNA Inc. (TGNA) has made a move of -2.53% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 27.76, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 213.76M with 2.69% sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of TGNA.

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