Shares of Tegna Inc. (NYSE:TGNA) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.86.
A number of equities analysts have recently commented on TGNA shares. Benchmark Co. started coverage on shares of Tegna in a research note on Friday, August 19th. They issued a “buy” rating and a $26.00 target price on the stock. Argus reissued a “buy” rating and issued a $33.00 target price on shares of Tegna in a research note on Saturday, August 13th. Zacks Investment Research raised shares of Tegna from a “sell” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, July 13th. Wells Fargo & Co. reissued a “hold” rating on shares of Tegna in a research note on Monday, September 26th. Finally, FBR & Co reissued a “hold” rating and issued a $24.00 target price on shares of Tegna in a research note on Thursday, September 8th.
Large investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. purchased a new stake in Tegna during the second quarter valued at about $151,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Tegna during the second quarter valued at about $204,000. Advance Capital I Inc. purchased a new stake in Tegna during the second quarter valued at about $204,000. Seven Eight Capital LLC increased its stake in Tegna by 58,666.7% in the first quarter. Seven Eight Capital LLC now owns 8,815 shares of the company’s stock valued at $207,000 after buying an additional 8,800 shares during the period. Finally, Sentry Investment Management LLC increased its stake in Tegna by 84.6% in the first quarter. Sentry Investment Management LLC now owns 8,916 shares of the company’s stock valued at $209,000 after buying an additional 4,086 shares during the period. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
Tegna (NYSE:TGNA) opened at 21.05 on Monday. Tegna has a 1-year low of $20.10 and a 1-year high of $28.95. The firm has a 50-day moving average of $21.23 and a 200 day moving average of $22.44. The firm has a market cap of $4.51 billion, a P/E ratio of 11.37 and a beta of 1.70.
Tegna (NYSE:TGNA) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. The company had revenue of $811.79 million for the quarter, compared to the consensus estimate of $814.56 million. Tegna had a net margin of 13.69% and a return on equity of 17.02%. Tegna’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, analysts predict that Tegna will post $2.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 9th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, September 7th. Tegna’s dividend payout ratio (DPR) is 28.72%.
Tegna Company Profile
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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