TEGNA Inc. (NYSE:TGNA) has received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.79.
A number of analysts have weighed in on the company. TheStreet cut TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Noble Financial reaffirmed a “buy” rating on shares of TEGNA in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price target on shares of TEGNA in a research report on Thursday, June 1st. Barclays PLC reaffirmed an “underweight” rating and issued a $13.00 price target (down previously from $20.00) on shares of TEGNA in a research report on Monday, June 5th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $16.50 price target on shares of TEGNA in a research report on Thursday, June 1st.
TEGNA (TGNA) traded up 2.353% during trading on Tuesday, hitting $12.395. The stock had a trading volume of 689,664 shares. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 15.153 and a beta of 1.76. TEGNA has a 1-year low of $11.46 and a 1-year high of $17.06. The firm’s 50 day moving average is $13.31 and its 200 day moving average is $14.99.
TEGNA (NYSE:TGNA) last released its quarterly earnings data 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 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 business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. On average, analysts anticipate that TEGNA will post $1.09 earnings per share for the current year.
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. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 annualized dividend and a yield of 2.31%. TEGNA’s dividend payout ratio is 16.97%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in TEGNA during the first quarter valued at about $131,000. ARS Investment Partners LLC bought a new position in TEGNA during the first quarter valued at about $135,000. Synovus Financial Corp increased its stake in TEGNA by 4.4% during the second quarter. Synovus Financial Corp now owns 10,304 shares of the company’s stock valued at $148,000 after acquiring an additional 438 shares during the period. FNY Partners Fund LP bought a new position in TEGNA during the second quarter valued at about $158,000. Finally, Iberiabank Corp bought a new position in TEGNA during the second quarter valued at about $170,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
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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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