✅ TEGNA Stock: Buybacks Can Reward Patient Investors

Finance

Shares of TEGNA (NYSE:TGNA) have been a poor performer over the past year, despite significant share repurchases, as investors continue to be concerned about cord-cutting and the future of broadcast television. I last covered TEGNA in May, rating shares a "strong buy" given its free cash flow capacity, but since then, the stock is down 5% even as the market has risen by 5%. This underperformance has come even as the company should see a major financial benefit from outsized political spending due to a competitive Presidential campaign. While there are no clear near-term catalysts, I view shares as attractive.

seekingalpha.com     Sep 10, 2024