ValuEngine lowered shares of TEGNA (NYSE:TGNA) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.
A number of other research analysts also recently issued reports on the stock. Stephens downgraded shares of TEGNA from an overweight rating to an equal rating and dropped their price target for the stock from $19.00 to $17.00 in a research report on Tuesday, June 11th. Benchmark restated a buy rating and issued a $18.00 price target on shares of TEGNA in a research report on Friday, May 10th. Noble Financial set a $20.00 target price on shares of TEGNA and gave the company a buy rating in a research report on Friday, May 10th. Finally, Zacks Investment Research downgraded shares of TEGNA from a hold rating to a strong sell rating and set a $17.00 target price on the stock. in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. TEGNA presently has an average rating of Hold and a consensus price target of $16.43.
Shares of NYSE TGNA traded down $0.14 during midday trading on Thursday, reaching $15.00. The stock had a trading volume of 1,991,452 shares, compared to its average volume of 1,431,428. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.46. TEGNA has a twelve month low of $10.24 and a twelve month high of $16.57. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50 day simple moving average of $15.22.
TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $516.80 million for the quarter, compared to the consensus estimate of $512.45 million. TEGNA had a net margin of 18.91% and a return on equity of 30.61%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. On average, equities research analysts expect that TEGNA will post 1.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.87%. TEGNA’s payout ratio is presently 15.30%.
Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of TEGNA during the 4th quarter valued at $52,000. DekaBank Deutsche Girozentrale acquired a new position in shares of TEGNA during the 2nd quarter valued at $85,000. Balasa Dinverno & Foltz LLC acquired a new position in shares of TEGNA during the 1st quarter valued at $144,000. Advisor Group Inc. lifted its position in shares of TEGNA by 172.1% during the 2nd quarter. Advisor Group Inc. now owns 10,406 shares of the company’s stock valued at $157,000 after acquiring an additional 6,581 shares during the period. Finally, Sciencast Management LP acquired a new position in shares of TEGNA during the 1st quarter valued at $158,000. Institutional investors own 97.37% 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.
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