Taking a Fresh Look at TEGNA Inc. (TGNA)

TEGNA Inc. (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 $15.35, down from yesterday’s close by -35.34%. 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

Money managers are always interested in a company that can find the right recipe of fundamental data because it reflects something important going on underneath the surface. TEGNA Inc. (TGNA) currently trades with a market capitalization of $3.30 Billion. That value represents a market adjusting for revenues that have been growing by 36.59 % 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 $79.66 Million of cash on the books, which is offset by $646,000 current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $600.96 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.37 on a per share basis this quarter. Perhaps, that suggests something about why 93.63% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, TEGNA Inc. recorded a 52-week high of $26.65. It is now trading 11.3% off that level. The stock is trading $24.60 its 50-day moving average by 9.25%. The stock carved out a 52-week low down at $17.91.

In recent action, TEGNA Inc. (TGNA) has made a move of -38.67% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 47, 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 3.87% with $214.10 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of TGNA.

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