BidaskClub downgraded shares of TEGNA Inc. (NYSE:TGNA) from a hold rating to a sell rating in a report published on Wednesday.
Several other analysts have also recently issued reports on TGNA. FBR & Co dropped their target price on TEGNA from $30.00 to $29.00 and set an outperform rating for the company in a report on Friday, May 5th. Wells Fargo & Company restated an outperform rating and issued a $16.50 target price on shares of TEGNA in a report on Thursday, June 1st. Jefferies Group LLC restated a hold rating and issued a $16.00 target price on shares of TEGNA in a report on Thursday, June 1st. ValuEngine cut TEGNA from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Zacks Investment Research cut TEGNA from a hold rating to a strong sell rating in a report on Monday, June 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $19.79.
TEGNA (NYSE:TGNA) traded up 0.24% during midday trading on Wednesday, reaching $12.64. 51,136 shares of the company were exchanged. The company has a 50-day moving average of $13.95 and a 200 day moving average of $20.37. TEGNA has a 52 week low of $12.31 and a 52 week high of $26.65. The firm has a market capitalization of $2.72 billion, a PE ratio of 15.45 and a beta of 1.75.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $489.36 million during the quarter, compared to analysts’ expectations of $486.29 million. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Equities analysts predict that TEGNA will post $1.08 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/08/24/tegna-inc-tgna-lowered-to-sell-at-bidaskclub.html.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 7th. TEGNA’s dividend payout ratio is presently 16.97%.
Several institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in shares of TEGNA during the first quarter worth approximately $131,000. Peak Asset Management LLC purchased a new position in shares of TEGNA during the first quarter worth approximately $205,000. Clifford Swan Investment Counsel LLC purchased a new position in shares of TEGNA during the first quarter worth approximately $207,000. Greatmark Investment Partners Inc. purchased a new position in shares of TEGNA during the first quarter worth approximately $213,000. Finally, Shoker Investment Counsel Inc. purchased a new position in shares of TEGNA during the first quarter worth approximately $218,000. Institutional investors and hedge funds own 90.09% of the company’s stock.
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.
Receive News & Ratings for TEGNA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
