It looks like the second Monday in August could be a busy one for Wall Street analysts that follow media companies. ViacomCBS will release its second quarter earnings on that date, and at the same time make a CFO transition.
August 10 will also see the release of TEGNA‘s Q2 2020 results.
The Q2 report will come prior to the Opening Bell on Wall Street, and an earnings call is on tap for 10am Eastern.
TGNA as of 10:15am Eastern was trading at $11.29, as the company’s shares have largely stabilized but have not climbed to pre-COVID 19 levels; TGNA began 2020 at $16.36 per share and were in the mid-$15 range one year ago.
Does that make TEGNA a good “value pick” for investors? Zacks in mid-June said yes, “as it has decent value metrics “thanks to its PE below 20 and a P/S ratio below one, as investors have to pay a relatively low level for each dollar of earnings.”
But CNBC commentator Jim Cramer disagrees, and says he wouldn’t invest in any media stocks.