ValuEngine lowered shares of TEGNA (NYSE:TGNA) from a sell rating to a strong sell rating in a research note published on Friday morning.
Several other brokerages have also commented on TGNA. Argus decreased their price objective on shares of TEGNA from $18.00 to $15.00 and set a buy rating for the company in a report on Wednesday, May 30th. Barclays set a $12.00 price target on shares of TEGNA and gave the stock a sell rating in a research note on Sunday, March 4th. B. Riley decreased their price target on shares of TEGNA from $16.00 to $13.00 and set a neutral rating for the company in a research note on Wednesday, May 9th. Zacks Investment Research upgraded shares of TEGNA from a hold rating to a buy rating and set a $15.00 price target for the company in a research note on Tuesday, March 6th. Finally, Barrington Research reiterated a buy rating and issued a $18.00 price target on shares of TEGNA in a research note on Tuesday, May 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. TEGNA has a consensus rating of Hold and a consensus target price of $15.08.
NYSE TGNA traded down $0.19 during trading on Friday, hitting $10.85. The company had a trading volume of 1,431,370 shares, compared to its average volume of 3,321,387. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 3.08. TEGNA has a one year low of $10.00 and a one year high of $15.60. The firm has a market capitalization of $2.38 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. TEGNA had a net margin of 23.56% and a return on equity of 27.89%. The business had revenue of $502.10 million during the quarter, compared to analyst estimates of $497.35 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. sell-side analysts predict that TEGNA will post 1.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $0.28 dividend on an annualized basis and a yield of 2.58%. TEGNA’s dividend payout ratio is currently 25.93%.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in TEGNA by 4.2% during the 1st quarter. BlackRock Inc. now owns 18,532,233 shares of the company’s stock valued at $211,083,000 after purchasing an additional 746,191 shares in the last quarter. Fairpointe Capital LLC increased its stake in TEGNA by 10.9% during the 4th quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after purchasing an additional 1,119,057 shares in the last quarter. Ariel Investments LLC increased its stake in TEGNA by 22.9% during the 4th quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock valued at $105,611,000 after purchasing an additional 1,395,820 shares in the last quarter. LSV Asset Management increased its stake in TEGNA by 6.1% during the 1st quarter. LSV Asset Management now owns 4,987,526 shares of the company’s stock valued at $56,807,000 after purchasing an additional 286,200 shares in the last quarter. Finally, Cove Street Capital LLC increased its stake in TEGNA by 6.9% during the 4th quarter. Cove Street Capital LLC now owns 3,596,668 shares of the company’s stock valued at $50,641,000 after purchasing an additional 231,845 shares in the last quarter. Institutional investors and hedge funds own 94.01% of the company’s stock.
TEGNA Company Profile
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for TEGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA and related companies with MarketBeat.com's FREE daily email newsletter.