TEGNA INC. $22

TEGNA INC. $22 (New York symbol TGNA; Conservative Growth Portfolio, Consumer sector: Shares outstanding: 217.6 million; Market cap: $4.8 billion; Price-to-sales ratio: 1.6; Dividend yield: 2.5%; TSINetwork Rating: Average; www.tegna.com) owns 46 TV stations and several popular websites, including Cars.com (car sales and vehicle information), CareerBuilder (job search), Cofactor (advertising services) and G/O Digital (website design).

In the first quarter of 2016, revenue rose 6.9%, to $781.7 million from $731.5 million a year earlier. Revenue benefited from U.S. election advertising.

Earnings rose 33.9%, to $92.9 million from $69.4 million. Per-share profits gained 40.0%, to $0.42 from $0.30, on fewer shares outstanding. Excluding unusual items, earnings per share jumped 87.5%.

Tegna is a buy.

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