TEGNA’s (TGNA) “Buy” Rating Reaffirmed at Barrington Research

Barrington Research reaffirmed their buy rating on shares of TEGNA (NYSE:TGNA) in a research note issued to investors on Tuesday morning, TipRanks reports. They currently have a $20.00 price objective on the stock. Barrington Research also issued estimates for TEGNA’s Q1 2020 earnings at $0.34 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.63 EPS and Q4 2020 earnings at $0.89 EPS.

Several other analysts have also weighed in on TGNA. JPMorgan Chase & Co. started coverage on TEGNA in a report on Monday, October 28th. They issued a neutral rating and a $18.00 price objective for the company. ValuEngine raised TEGNA from a strong sell rating to a sell rating in a report on Monday, February 10th. Zacks Investment Research raised TEGNA from a hold rating to a strong-buy rating and set a $19.00 price objective for the company in a report on Friday, January 3rd. Cfra boosted their price objective on TEGNA from $17.00 to $19.00 and gave the company a buy rating in a report on Tuesday. Finally, Benchmark boosted their price objective on TEGNA to and gave the company a buy rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $19.00.

Shares of NYSE TGNA opened at $16.91 on Tuesday. TEGNA has a 1 year low of $12.06 and a 1 year high of $18.30. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.78 and a beta of 1.45. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.73 and a current ratio of 1.73. The stock’s 50-day simple moving average is $17.11 and its 200-day simple moving average is $15.73.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The firm had revenue of $693.90 million during the quarter, compared to analyst estimates of $690.01 million. TEGNA had a return on equity of 24.84% and a net margin of 16.15%. TEGNA’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, research analysts predict that TEGNA will post 1.32 EPS for the current year.

Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc RI bought a new position in shares of TEGNA during the fourth quarter valued at approximately $32,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of TEGNA during the fourth quarter valued at approximately $37,000. Usca Ria LLC bought a new position in shares of TEGNA during the third quarter valued at approximately $39,000. Howard Wealth Management LLC bought a new position in shares of TEGNA during the fourth quarter valued at approximately $42,000. Finally, Great Diamond Partners LLC bought a new position in shares of TEGNA during the fourth quarter valued at approximately $62,000. 99.60% of the stock is owned by 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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