Tegna (NYSE:TGNA) was upgraded by equities researchers at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, January 4th, MarketBeat reports. The brokerage presently has a $19.00 price objective on the stock. Wells Fargo & Co’s price target indicates a potential upside of 23.78% from the stock’s current price.
A number of other research analysts also recently commented on the stock. B. Riley reissued a “neutral” rating on shares of Tegna in a research report on Wednesday, November 1st. FBR & Co reissued a “hold” rating and issued a $15.00 price objective on shares of Tegna in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Tegna from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Jefferies Group reissued a “hold” rating and issued a $14.00 price objective on shares of Tegna in a research report on Monday, October 16th. Finally, Noble Financial restated a “buy” rating on shares of Tegna in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.50.
Shares of Tegna (NYSE TGNA) opened at $15.35 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30. Tegna has a 12-month low of $11.59 and a 12-month high of $17.08. The stock has a market cap of $3,300.00, a price-to-earnings ratio of 9.90, a PEG ratio of 7.85 and a beta of 1.57.
Tegna (NYSE:TGNA) last released its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $464.26 million during the quarter, compared to the consensus estimate of $463.23 million. Tegna had a net margin of 11.10% and a return on equity of 20.50%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. research analysts expect that Tegna will post 1.08 EPS for the current fiscal year.
In other news, EVP Todd A. Mayman sold 36,830 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the transaction, the executive vice president now directly owns 19,420 shares in the company, valued at approximately $245,274.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Clifton A. Mcclelland III sold 7,740 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the transaction, the senior vice president now owns 32,335 shares of the company’s stock, valued at $442,666.15. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.
Several large investors have recently modified their holdings of TGNA. Diamond Hill Capital Management Inc. grew its holdings in shares of Tegna by 0.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock valued at $148,994,000 after purchasing an additional 57,105 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Tegna by 75.0% during the 3rd quarter. Empirical Finance LLC now owns 123,668 shares of the company’s stock valued at $1,649,000 after purchasing an additional 52,993 shares during the last quarter. Clinton Group Inc. grew its holdings in shares of Tegna by 711.1% during the 2nd quarter. Clinton Group Inc. now owns 302,168 shares of the company’s stock valued at $4,354,000 after purchasing an additional 264,914 shares during the last quarter. Fairpointe Capital LLC grew its holdings in shares of Tegna by 13.3% during the 2nd quarter. Fairpointe Capital LLC now owns 8,478,230 shares of the company’s stock valued at $122,171,000 after purchasing an additional 993,543 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tegna by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,327,077 shares of the company’s stock valued at $76,767,000 after purchasing an additional 392,936 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.
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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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