Shares of TEGNA Inc. (NYSE:TGNA) have been given a consensus rating of “Hold” by the fifteen research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.67.
A number of research analysts have issued reports on the company. ValuEngine upgraded TEGNA from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 11th. Zacks Investment Research upgraded TEGNA from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Monday, July 9th. Noble Financial set a $15.00 price objective on TEGNA and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Evercore ISI assumed coverage on TEGNA in a research note on Tuesday, July 31st. They set an “in-line” rating and a $14.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $17.00 price objective on shares of TEGNA in a research note on Wednesday, August 8th.
Several hedge funds have recently bought and sold shares of TGNA. Fox Run Management L.L.C. purchased a new position in shares of TEGNA in the second quarter worth $112,000. Trexquant Investment LP purchased a new position in shares of TEGNA in the second quarter worth $115,000. Todd Asset Management LLC purchased a new position in shares of TEGNA in the second quarter worth $115,000. Cadence Capital Management LLC purchased a new position in shares of TEGNA in the second quarter worth $140,000. Finally, LPL Financial LLC purchased a new position in shares of TEGNA in the first quarter worth $159,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business had revenue of $524.08 million during the quarter, compared to analysts’ expectations of $516.52 million. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. As a group, research analysts anticipate that TEGNA will post 1.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, September 6th. TEGNA’s dividend payout ratio is currently 25.93%.
TEGNA Company Profile
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
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