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Is Tegna (TGNA) a Great Value Stock Right Now?

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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is Tegna (TGNA - Free Report) . TGNA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 7.69 right now. For comparison, its industry sports an average P/E of 21.18. Over the last 12 months, TGNA's Forward P/E has been as high as 9.74 and as low as 6.03, with a median of 7.57.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. TGNA has a P/S ratio of 1.22. This compares to its industry's average P/S of 1.23.

Value investors will likely look at more than just these metrics, but the above data helps show that Tegna is likely undervalued currently. And when considering the strength of its earnings outlook, TGNA sticks out at as one of the market's strongest value stocks.




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