TEGNA (NYSE: TGNA) has recently received a number of price target changes and ratings updates:

  • 10/2/2017 – TEGNA was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/28/2017 – TEGNA was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/26/2017 – TEGNA is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $14.00 price target on the stock.
  • 9/22/2017 – TEGNA had its “hold” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $14.00 price target on the stock.
  • 9/20/2017 – TEGNA had its “hold” rating reaffirmed by analysts at FBR & Co. They now have a $15.00 price target on the stock.
  • 9/13/2017 – TEGNA was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “TEGNA seems to be soaring high, post the completion of its two strategic business moves. On one side, TEGNA plans to use the $250 million of gross proceeds from the sale of its web portal CareerBuilder, to clear off existing debt. While the spin-off of its auto-sales website, Cars.com into two publicly traded companies: TEGNA and Cars.com, should increase TEGNA's growth opportunities and appropriate market valuations. Moreover, TEGNA’s media business is faring well, evident from the revenue growth. However, TEGNA’s operation in a competitive broadcast TV industry remains a concern. The U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. Over the past three months, the stock price declined 15.7% as against the industry’s gain of 5.7%.”
  • 9/12/2017 – TEGNA was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/1/2017 – TEGNA was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/23/2017 – TEGNA was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/22/2017 – TEGNA was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the past three months, the stock price of TEGNA Inc. lagged the industry growth. TEGNA's operation in a competitive broadcast TV industry is a woe. The U.S. broadcast TV industry has long been grappling with declining advertising revenues and global economic volatility. However, TEGNA recently completed the sale of its web portal CareerBuilder (reducing its previous 53% controlling interest to 12.5%), to an investor group led by Apollo Global Management and Ontario Teachers’ Pension Plan Board and plans to use the $250 million of gross proceeds from the sale, to clear off existing debt. Meanwhile, completion of the spin-off of its auto-sales website, Cars.com, should generate more value for investors than the current stock price of the company. TEGNA’s media business is faring well, evident from the revenue growth.”

TEGNA Inc. (NYSE TGNA) opened at 13.42 on Thursday. TEGNA Inc. has a 52-week low of $11.46 and a 52-week high of $17.06. The stock has a market cap of $2.89 billion, a PE ratio of 16.41 and a beta of 1.73. The firm has a 50-day moving average price of $12.69 and a 200 day moving average price of $14.51.

TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million during the quarter, compared to analyst estimates of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. On average, analysts forecast that TEGNA Inc. will post $1.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was 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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