TEGNA Inc. (TGNA) Downgraded to “C+” at TheStreet
TEGNA Inc. (NYSE:TGNA) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Thursday.
Several other equities research analysts have also recently commented on the company. Noble Financial restated a “buy” rating on shares of TEGNA in a research note on Thursday. Benchmark Co. restated a “buy” rating and set a $20.00 price target on shares of TEGNA in a research note on Friday, June 16th. Barclays PLC restated an “underweight” rating and set a $13.00 price target (down previously from $20.00) on shares of TEGNA in a research note on Monday, June 5th. Zacks Investment Research cut TEGNA from a “hold” rating to a “strong sell” rating in a research note on Monday, June 5th. Finally, ValuEngine cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.31.
Shares of TEGNA (NYSE TGNA) traded down 1.02% during midday trading on Thursday, hitting $14.51. 1,801,486 shares of the stock were exchanged. TEGNA has a one year low of $14.02 and a one year high of $26.65. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 7.75 and a beta of 1.74. The firm has a 50 day moving average of $18.03 and a 200-day moving average of $22.58.
TEGNA (NYSE:TGNA) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. TEGNA had a return on equity of 19.16% and a net margin of 12.25%. The business had revenue of $778.50 million during the quarter, compared to analysts’ expectations of $799.54 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts expect that TEGNA will post $1.22 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of TGNA. Sei Investments Co. raised its stake in TEGNA by 2.0% in the first quarter. Sei Investments Co. now owns 175,358 shares of the company’s stock valued at $4,493,000 after buying an additional 3,382 shares during the period. Clark Capital Management Group Inc. purchased a new stake in TEGNA during the first quarter valued at $14,889,000. BNP Paribas Arbitrage SA raised its stake in TEGNA by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 179,586 shares of the company’s stock valued at $4,601,000 after buying an additional 18,019 shares during the period. DnB Asset Management AS raised its stake in TEGNA by 27.5% in the first quarter. DnB Asset Management AS now owns 15,779 shares of the company’s stock valued at $404,000 after buying an additional 3,400 shares during the period. Finally, Schroder Investment Management Group raised its stake in TEGNA by 9.3% in the first quarter. Schroder Investment Management Group now owns 2,076,776 shares of the company’s stock valued at $53,705,000 after buying an additional 176,474 shares during the period. 85.89% of the stock is currently owned by institutional investors.
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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