TGNA – Markets expectations are for continued Uniform ROA compression, but management is confident about growth, video plays, and end-market recovery

February 2, 2021

  • TEGNA Inc. (TGNA:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 12.7x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about revenue growth, video engagement growth, and the auto and retail market recovery
  • Specifically, management is confident advertising and marketing services revenue grew year-over-year, that auto and retail markets are recovering, and that VERIFY content monthly visitors and video plays grew by 200%+ and 700%+, respectively