TEGNA Inc. (TGNA) Stock Rating Lowered by ValuEngine
TEGNA Inc. (NYSE:TGNA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.
TGNA has been the subject of a number of other research reports. BidaskClub cut shares of TEGNA from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research cut shares of TEGNA from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. FBR & Co reduced their price target on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, May 15th. Benchmark Co. reiterated a “buy” rating and issued a $20.00 price target on shares of TEGNA in a report on Friday, June 16th. Finally, Noble Financial reiterated a “buy” rating on shares of TEGNA in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.79.
Shares of TEGNA (NYSE TGNA) traded up 1.51% during midday trading on Friday, hitting $12.81. 1,461,683 shares of the company traded hands. The stock has a market capitalization of $2.76 billion, a P/E ratio of 15.66 and a beta of 1.77. The stock’s 50-day moving average is $13.61 and its 200 day moving average is $15.09. TEGNA has a 12-month low of $11.46 and a 12-month high of $17.06.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $489.36 million during the quarter, compared to analysts’ expectations of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, analysts expect that TEGNA will post $1.09 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Retirement Systems of Alabama raised its stake in shares of TEGNA by 2.1% in the first quarter. Retirement Systems of Alabama now owns 103,791 shares of the company’s stock worth $2,659,000 after buying an additional 2,165 shares in the last quarter. First Manhattan Co. raised its stake in shares of TEGNA by 119.9% in the first quarter. First Manhattan Co. now owns 30,424 shares of the company’s stock worth $665,000 after buying an additional 16,591 shares in the last quarter. Korea Investment CORP acquired a new stake in shares of TEGNA during the first quarter worth approximately $1,278,000. ProShare Advisors LLC raised its stake in shares of TEGNA by 0.6% in the first quarter. ProShare Advisors LLC now owns 60,039 shares of the company’s stock worth $1,538,000 after buying an additional 371 shares in the last quarter. Finally, Conning Inc. raised its stake in shares of TEGNA by 0.7% in the first quarter. Conning Inc. now owns 9,970 shares of the company’s stock worth $255,000 after buying an additional 70 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.
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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