Several other analysts also recently weighed in on TGNA. FBR & Co reissued a hold rating and issued a $24.00 price target on shares of Tegna in a research note on Thursday, September 8th. TheStreet downgraded shares of Tegna from a buy rating to a hold rating in a research note on Monday, August 22nd. Benchmark Co. initiated coverage on shares of Tegna in a research note on Friday, August 19th. They issued a buy rating and a $26.00 price target for the company. Argus reaffirmed a buy rating and set a $33.00 price objective on shares of Tegna in a research note on Saturday, August 13th. Finally, Jefferies Group lowered their price objective on shares of Tegna from $26.00 to $25.00 and set a hold rating for the company in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $26.88.
Shares of Tegna (NYSE:TGNA) opened at 21.35 on Monday. Tegna has a 1-year low of $20.10 and a 1-year high of $28.95. The firm’s 50-day moving average price is $21.10 and its 200 day moving average price is $22.57. The company has a market capitalization of $4.58 billion, a PE ratio of 11.53 and a beta of 1.77.
Tegna (NYSE:TGNA) last announced its earnings results on Tuesday, July 26th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Tegna had a net margin of 13.69% and a return on equity of 17.02%. The company earned $811.79 million during the quarter, compared to analyst estimates of $814.56 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Tegna will post $2.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, September 7th. Tegna’s dividend payout ratio (DPR) is presently 28.72%.
A number of large investors have recently made changes to their positions in TGNA. Geode Capital Management LLC boosted its stake in shares of Tegna by 5.0% in the first quarter. Geode Capital Management LLC now owns 1,900,641 shares of the company’s stock worth $44,503,000 after buying an additional 90,396 shares during the period. CrestPoint Capital Management LLC boosted its stake in shares of Tegna by 11.7% in the second quarter. CrestPoint Capital Management LLC now owns 31,400 shares of the company’s stock worth $728,000 after buying an additional 3,300 shares during the period. Rothschild Asset Management Inc. acquired a new stake in shares of Tegna during the second quarter worth $1,440,000. Victory Capital Management Inc. boosted its stake in shares of Tegna by 34.3% in the second quarter. Victory Capital Management Inc. now owns 4,015,999 shares of the company’s stock worth $93,051,000 after buying an additional 1,025,348 shares during the period. Finally, Magnetar Financial LLC boosted its stake in shares of Tegna by 10.7% in the first quarter. Magnetar Financial LLC now owns 16,781 shares of the company’s stock worth $394,000 after buying an additional 1,622 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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