AllAnalyst Report
logoArgusDecember 03, 2021

TEGNA Inc.: Maintaining BUY rating following 3Q results

Symbols
TGNA
Sector(s)
Communication Services
Rating
Current Price
$19.67
Price Target
Earnings Estimate
Summary

TEGNA is a pure-play local television broadcasting and related digital media company. The Broadcasting segment comprises 64 local television stations and two radio stations in 51 markets, covering about 39% of the U.S. TEGNA has the largest independent group of television network local affiliate stations in the top 25 U.S. television markets. Each month the company reaches 41.7 million on-air and 75 million digital viewers with 32 million social followers. It also manages the largest NBC and CBS affiliate station groups, and the fourth-largest ABC affiliate station group.

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Analyst Profile

Joseph F. Bonner, CFA

Senior Analyst: Communication Services & Technology
Joe covers the Communication Services sector and selected software technology stocks for Argus. In 2010, he was named #5 Stock Picker for Telecom Services in the Wall Street Journal's Best on the Street Analyst Survey. In 2008, Joe was named #1 Stock Picker for Media: U.S. by the Financial Times and was second in the Wall Street Journal's Best on the Street Analyst Survey for Telecommunications: Fixed Line. For more than a decade, Joe worked with Technicolor Inc., where he focused on financial and legal issues. He received his Masters in Business Administration from Fordham University in New York, where he concentrated in Finance. He earned a BA in International Affairs from the George Washington University, and spent three years with the Peace Corps in Talgar, Kazakhstan, developing an English Language resource center and teaching students. Joe is a CFA charterholder.