TEGNA Inc. (TGNA) Receives Average Recommendation of “Hold” from Analysts
Shares of TEGNA Inc. (NYSE:TGNA) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.79.
Several research firms recently weighed in on TGNA. ValuEngine raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $14.00 price objective (down previously from $16.00) on shares of TEGNA in a research report on Wednesday, August 2nd. BidaskClub cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, FBR & Co cut their price objective on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, May 5th.
A number of hedge funds and other institutional investors have recently modified their holdings of TGNA. Chevy Chase Trust Holdings Inc. increased its position in shares of TEGNA by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 187,934 shares of the company’s stock valued at $4,814,000 after buying an additional 5,888 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of TEGNA by 26.6% in the first quarter. Capstone Asset Management Co. now owns 24,663 shares of the company’s stock valued at $632,000 after buying an additional 5,180 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of TEGNA during the first quarter valued at approximately $364,000. DnB Asset Management AS increased its position in shares of 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 last quarter. Finally, Huntington National Bank increased its position in shares of TEGNA by 3,846.0% in the first quarter. Huntington National Bank now owns 11,838 shares of the company’s stock valued at $303,000 after buying an additional 11,538 shares during the last quarter. 90.09% of the stock is owned by hedge funds and other institutional investors.
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Shares of TEGNA (NYSE:TGNA) traded down 0.47% during midday trading on Friday, hitting $12.60. 567,436 shares of the company were exchanged. The company has a market capitalization of $2.71 billion, a P/E ratio of 15.40 and a beta of 1.75. The company has a 50-day moving average of $14.16 and a 200 day moving average of $20.69. TEGNA has a one year low of $12.56 and a one year high of $26.65.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The business had revenue of $489.36 million during the quarter, compared to analysts’ expectations of $486.29 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. TEGNA’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that TEGNA will post $1.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, September 7th. TEGNA’s payout ratio is 16.97%.
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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