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Lynn B. Trelstad, Executive Vice President and Chief Operating Officer of Media Operations at TEGNA Inc. (NYSE:TGNA), a media company currently trading at an attractive P/E ratio of 5x and boasting a perfect Piotroski Score of 9 according to InvestingPro, recently sold 40,000 shares of the company’s common stock. The shares were sold at a weighted average price of $17.74, totaling approximately $709,599. This transaction was executed under Trelstad’s Rule 10b5-1 trading plan, which was adopted on December 9, 2024. Following this sale, Trelstad holds 149,432.54 shares directly. Additionally, Trelstad maintains indirect ownership of shares through a 401(k) plan and by a spouse, totaling 49,978.333 shares. The company maintains strong financial health with a 22% free cash flow yield and appears undervalued according to InvestingPro’s Fair Value analysis, which offers 12 additional key insights about TEGNA’s financial outlook.
In other recent news, TEGNA Inc. reported its fourth-quarter earnings for 2024, revealing a slight miss in earnings per share (EPS) compared to forecasts. The company posted an EPS of $1.21, falling short of the anticipated $1.26, while revenue for the quarter was $871 million, below the forecasted $884.71 million. Despite these misses, TEGNA’s revenue marked a 20% year-over-year increase, and full-year 2024 revenue reached $3.1 billion, up 7% from the previous year. Benchmark analysts maintained their Buy rating on TEGNA with a $21.00 price target, citing optimism around the appointment of new CEO Mike Steib and potential regulatory relief discussions. The company is focusing on digital innovation and operational cost savings, which are expected to enhance efficiency and profitability. TEGNA’s strategic initiatives include leveraging potential industry deregulation for mergers and acquisitions and renewing 45% of its traditional subscriber base in 2025. The company is also actively pursuing digital transformation and cost-saving initiatives, such as cloud-based technology and centralized marketing operations. Despite a softer core advertising outlook, TEGNA’s significant financial flexibility positions it well for strategic growth opportunities.
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