Analyzing TEGNA's Valuation After Recent Share Price Decline

TEGNA (TGNA) share price has pulled back to $18.96, with negative returns over the past month and 3 months, despite a positive 1-year total return. The company's annual revenue is $2.88b and net income is $342.98m. The recent pullback contrasts with TEGNA's 9.5% 1-year total shareholder return. The P/E multiple is 8.9x, which is considered inexpensive compared to peers and the US Media industry. However, its earnings are forecast to grow by 5.1% per year and revenue by 2% per year, which is below broader US market forecasts.