TEGNA Inc. (TGNA) Receives Consensus Rating of “Hold” from Analysts

Shares of TEGNA Inc. (NYSE:TGNA) have received an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.63.

Several analysts recently commented on TGNA shares. Benchmark Co. reiterated a “buy” rating and issued a $20.00 price target on shares of TEGNA in a research report on Friday, June 16th. Noble Financial reiterated a “buy” rating on shares of TEGNA in a research report on Thursday, July 13th. TheStreet downgraded shares of TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. ValuEngine upgraded shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, FBR & Co reduced their price target on shares of TEGNA from $24.00 to $16.00 and set a “mkt perform” rating for the company in a research report on Friday, July 28th.

A number of institutional investors and hedge funds have recently made changes to their positions in TGNA. UBS Asset Management Americas Inc. increased its stake in TEGNA by 3.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 617,362 shares of the company’s stock valued at $15,817,000 after buying an additional 20,329 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of TEGNA by 36.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 28,337 shares of the company’s stock worth $726,000 after purchasing an additional 7,552 shares during the period. Oxford Asset Management acquired a new position in shares of TEGNA during the 1st quarter worth $439,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of TEGNA by 6.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,119 shares of the company’s stock worth $439,000 after purchasing an additional 967 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of TEGNA during the 1st quarter worth $131,000. 98.00% of the stock is currently owned by institutional investors.

TEGNA (TGNA) traded down 3.40% on Friday, hitting $12.51. The firm has a 50-day moving average price of $12.76 and a 200 day moving average price of $14.38. TEGNA has a 12-month low of $11.46 and a 12-month high of $17.06. The company has a market cap of $2.69 billion, a P/E ratio of 15.29 and a beta of 1.73.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $489.36 million during the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. Analysts expect that TEGNA will post $1.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a $0.07 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.24%. TEGNA’s dividend payout ratio is currently 16.97%.

TEGNA declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 19th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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About TEGNA

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.

Analyst Recommendations for TEGNA (NYSE:TGNA)

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