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

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TEGNA Inc. (NYSE:TGNA) has received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.22.

TGNA has been the subject of several research reports. Wolfe Research upgraded shares of TEGNA from a “market perform” rating to an “outperform” rating in a research note on Monday, August 19th. Cannonball Research began coverage on shares of TEGNA in a research report on Wednesday, August 21st. They issued a “neutral” rating and a $17.00 price target for the company. Wells Fargo & Co began coverage on shares of TEGNA in a research report on Tuesday, September 24th. They issued a “market perform” rating and a $17.00 price target for the company. Zacks Investment Research lowered shares of TEGNA from a “hold” rating to a “sell” rating and set a $16.00 price target for the company. in a research report on Wednesday, August 7th. Finally, Barrington Research reissued a “buy” rating and issued a $18.00 price target on shares of TEGNA in a research report on Tuesday, August 6th.

Shares of NYSE TGNA traded up $0.20 during mid-day trading on Friday, hitting $15.23. The company had a trading volume of 961,660 shares, compared to its average volume of 1,168,081. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.94 and a quick ratio of 1.94. The business’s 50-day simple moving average is $15.33 and its 200-day simple moving average is $15.28. TEGNA has a 12 month low of $10.24 and a 12 month high of $16.58. The firm has a market cap of $3.26 billion, a P/E ratio of 8.32, a PEG ratio of 1.24 and a beta of 1.44.

TEGNA (NYSE:TGNA) last released its earnings results on Tuesday, August 6th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. TEGNA had a net margin of 18.24% and a return on equity of 28.43%. The business had revenue of $536.90 million during the quarter, compared to analysts’ expectations of $534.10 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that TEGNA will post 1.21 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, December 5th. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.

A number of large investors have recently bought and sold shares of TGNA. Amundi Pioneer Asset Management Inc. increased its holdings in shares of TEGNA by 201.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 51,221 shares of the company’s stock worth $722,000 after buying an additional 34,221 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in shares of TEGNA during the second quarter worth approximately $1,823,000. Investors Research Corp increased its holdings in shares of TEGNA by 4.8% during the second quarter. Investors Research Corp now owns 17,475 shares of the company’s stock worth $265,000 after buying an additional 800 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of TEGNA during the second quarter worth approximately $2,095,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of TEGNA by 2.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 87,443 shares of the company’s stock worth $1,325,000 after buying an additional 2,156 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

About TEGNA

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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Analyst Recommendations for TEGNA (NYSE:TGNA)

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