TEGNA Shares Fall 9% YTD: How Should Investors Play the Stock?

TEGNA (TGNA) shares have declined 9% year to date (YTD), underperforming the broader Zacks Consumer Discretionary Sector's appreciation of 2.4%. It has also lagged the Zacks Broadcast Radio and Television industry and peers like Netflix (NFLX) , Fox (FOXA) and Nexstar Media Group (NXST) . Over the same time frame, shares of Netflix, Fox and Nexstar Media have gained 41%, 31.1% and 2.4%, respectively, while the industry has appreciated 49.1%. TGNA shares underperformance can be attributed to lower top-line g ...