TEGNA Inc. (NYSE:TGNA) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $15.13.
Several brokerages have weighed in on TGNA. TheStreet downgraded TEGNA from a “b-” rating to a “c+” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of TEGNA from $19.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, April 13th. Zacks Investment Research downgraded shares of TEGNA from a “buy” rating to a “hold” rating and set a $13.00 price target for the company. in a report on Wednesday, April 8th. Benchmark dropped their price target on shares of TEGNA from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Barrington Research restated a “buy” rating and issued a $15.00 price target on shares of TEGNA in a research note on Monday, July 13th.
A number of large investors have recently bought and sold shares of TGNA. Meeder Asset Management Inc. raised its stake in TEGNA by 288.3% during the first quarter. Meeder Asset Management Inc. now owns 7,498 shares of the company’s stock worth $81,000 after purchasing an additional 5,567 shares during the period. Cerebellum GP LLC purchased a new position in TEGNA during the second quarter worth approximately $104,000. Clear Street Markets LLC purchased a new position in TEGNA during the first quarter worth approximately $109,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of TEGNA in the second quarter worth $116,000. Finally, Heritage Investors Management Corp acquired a new stake in shares of TEGNA in the first quarter worth $124,000. 97.06% of the stock is currently owned by institutional investors.
Shares of NYSE TGNA opened at $11.78 on Tuesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.76 and a beta of 1.36. The stock has a 50 day moving average price of $11.16 and a 200 day moving average price of $13.12. TEGNA has a 52-week low of $9.61 and a 52-week high of $18.31.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. TEGNA had a return on equity of 21.17% and a net margin of 12.10%. The firm had revenue of $684.20 million during the quarter, compared to analyst estimates of $684.00 million. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. Analysts forecast that TEGNA will post 1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 3rd. TEGNA’s dividend payout ratio is currently 20.29%.
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.
Further Reading: 52-week highs
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