ValuEngine upgraded shares of TEGNA Inc. (NYSE:TGNA) from a hold rating to a buy rating in a research report sent to investors on Thursday, July 27th.
TGNA has been the topic of a number of other reports. TheStreet raised TEGNA from a c rating to a b rating in a report on Thursday, March 30th. Benchmark Co. reiterated a buy rating and set a $20.00 price objective on shares of TEGNA in a research report on Friday, June 16th. FBR & Co reduced their price objective on TEGNA from $30.00 to $29.00 and set an outperform rating for the company in a research report on Monday, May 15th. Zacks Investment Research cut TEGNA from a hold rating to a strong sell rating in a research report on Monday, June 5th. Finally, Noble Financial reiterated a buy rating on shares of TEGNA in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $21.44.
Shares of TEGNA (NYSE:TGNA) opened at 13.37 on Thursday. The stock’s 50 day moving average price is $14.70 and its 200 day moving average price is $21.43. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 7.37 and a beta of 1.75. TEGNA has a 12 month low of $13.25 and a 12 month high of $26.65.
TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. TEGNA had a return on equity of 17.14% and a net margin of 11.90%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Analysts expect that TEGNA will post $1.20 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s payout ratio is presently 16.97%.
Institutional investors have recently made changes to their positions in the stock. Federated Investors Inc. PA raised its position in shares of TEGNA by 1,970.3% in the second quarter. Federated Investors Inc. PA now owns 100,080 shares of the company’s stock worth $1,443,000 after buying an additional 95,246 shares during the last quarter. BB&T Securities LLC purchased a new position in shares of TEGNA during the second quarter worth approximately $239,000. Three Peaks Capital Management LLC purchased a new position in shares of TEGNA during the second quarter worth approximately $10,757,000. First Personal Financial Services purchased a new position in shares of TEGNA during the second quarter worth approximately $192,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of TEGNA during the second quarter worth approximately $526,000. 86.66% of the stock is owned by institutional investors.
TEGNA Company Profile
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.
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