Shares of TEGNA Inc. (NYSE:TGNA) have earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $21.44.
Several equities analysts have commented on the stock. ValuEngine downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. reissued a “buy” rating and set a $20.00 target price on shares of TEGNA in a research report on Friday, June 16th. FBR & Co lowered their target price on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. BidaskClub downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research report on Monday, June 5th.
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A number of hedge funds and other institutional investors have recently made changes to their positions in TGNA. Vanguard Group Inc. boosted its position in shares of TEGNA by 1.1% in the first quarter. Vanguard Group Inc. now owns 21,056,913 shares of the company’s stock worth $539,479,000 after buying an additional 231,675 shares in the last quarter. BlackRock Inc. boosted its position in shares of TEGNA by 32.2% in the second quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock worth $253,518,000 after buying an additional 4,286,497 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of TEGNA by 90.5% in the second quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock worth $185,828,000 after buying an additional 6,127,293 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of TEGNA by 31.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock worth $160,243,000 after buying an additional 2,676,789 shares in the last quarter. Finally, State Street Corp boosted its position in shares of TEGNA by 1.0% in the first quarter. State Street Corp now owns 9,731,739 shares of the company’s stock worth $249,313,000 after buying an additional 92,596 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Shares of TEGNA (NYSE:TGNA) opened at 12.91 on Monday. TEGNA has a 52-week low of $12.90 and a 52-week high of $26.65. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 15.78 and a beta of 1.75. The firm has a 50-day moving average price of $14.40 and a 200-day moving average price of $21.02.
TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The business had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. During the same period in the prior year, the business posted $0.50 earnings per share. TEGNA’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that TEGNA will post $1.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 2.17%. The ex-dividend date is Thursday, September 7th. TEGNA’s dividend payout ratio is 16.97%.
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.
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