TEGNA Inc. (NYSE:TGNA) Given Consensus Recommendation of “Hold” by Analysts

TEGNA Inc. (NYSE:TGNA) has received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.75.

TGNA has been the topic of several research analyst reports. Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Finally, Wells Fargo & Company lowered shares of TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd.

Institutional Investors Weigh In On TEGNA

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in TEGNA by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 5,064,389 shares of the company’s stock valued at $98,311,000 after purchasing an additional 24,743 shares during the period. Royce & Associates LP raised its stake in shares of TEGNA by 0.5% in the fourth quarter. Royce & Associates LP now owns 1,432,316 shares of the company’s stock valued at $27,801,000 after buying an additional 7,731 shares during the period. New Age Alpha Advisors LLC raised its stake in shares of TEGNA by 7.1% in the fourth quarter. New Age Alpha Advisors LLC now owns 23,710 shares of the company’s stock valued at $460,000 after buying an additional 1,576 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of TEGNA by 27.6% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 396,958 shares of the company’s stock valued at $7,705,000 after buying an additional 85,937 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of TEGNA by 4.6% during the 4th quarter. Gabelli Funds LLC now owns 1,169,506 shares of the company’s stock worth $22,700,000 after acquiring an additional 51,689 shares during the period. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 8.9%

TEGNA stock opened at $20.77 on Thursday. TEGNA has a fifty-two week low of $14.87 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.22 and a current ratio of 2.22. The firm’s 50-day simple moving average is $19.25 and its 200 day simple moving average is $19.65. The stock has a market cap of $3.35 billion, a PE ratio of 9.80 and a beta of 0.15.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $650.79 million during the quarter, compared to analysts’ expectations of $658.28 million. TEGNA had a net margin of 11.97% and a return on equity of 12.50%. The company’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. Research analysts predict that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, December 5th. TEGNA’s dividend payout ratio is currently 23.58%.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.