Tegna Inc (NYSE:TGNA) – Equities researchers at B. Riley raised their FY2018 earnings per share estimates for Tegna in a research note issued on Tuesday. B. Riley analyst B. Crockett now forecasts that the company will post earnings per share of $1.89 for the year, up from their previous estimate of $1.59. B. Riley currently has a “Neutral” rating on the stock.
TGNA has been the subject of a number of other research reports. Zacks Investment Research cut Tegna from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. ValuEngine upgraded Tegna from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group restated a “hold” rating and set a $14.00 price objective on shares of Tegna in a report on Monday, October 16th. Royal Bank of Canada began coverage on Tegna in a report on Tuesday, September 26th. They issued a “sector perform” rating and a $14.00 target price for the company. Finally, BidaskClub cut Tegna from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.50.
Tegna (NYSE TGNA) traded up $0.11 on Thursday, reaching $15.14. The company had a trading volume of 929,993 shares, compared to its average volume of 2,580,000. Tegna has a one year low of $11.59 and a one year high of $26.65. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30. The stock has a market cap of $3,260.00, a PE ratio of 9.77, a P/E/G ratio of 7.56 and a beta of 1.57.
Tegna (NYSE:TGNA) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The company had revenue of $464.26 million during the quarter, compared to analysts’ expectations of $463.23 million. During the same quarter in the previous year, the business earned $0.65 EPS. Tegna’s revenue was down 10.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Tegna during the 3rd quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tegna by 523.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,337 shares of the company’s stock valued at $138,000 after buying an additional 8,678 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new position in Tegna during the 3rd quarter valued at about $162,000. Quantbot Technologies LP acquired a new position in Tegna during the 3rd quarter valued at about $169,000. Finally, State of Alaska Department of Revenue acquired a new position in Tegna during the 4th quarter valued at about $177,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.
In related news, SVP Clifton A. Mcclelland III sold 7,740 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the sale, the senior vice president now directly owns 32,335 shares in the company, valued at approximately $442,666.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Todd A. Mayman sold 36,830 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $12.63, for a total value of $465,162.90. Following the sale, the executive vice president now owns 19,420 shares of the company’s stock, valued at $245,274.60. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, December 7th. Tegna’s dividend payout ratio is 18.06%.
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Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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