Shares of TEGNA Inc. (NYSE:TGNA) have been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.56.
TGNA has been the subject of several research reports. ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of TEGNA from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. initiated coverage on shares of TEGNA in a research note on Monday, October 28th. They set a “neutral” rating and a $18.00 price objective for the company. Argus reiterated a “buy” rating and set a $21.00 price objective on shares of TEGNA in a research note on Friday. Finally, Barrington Research reiterated a “buy” rating and set a $20.00 price objective on shares of TEGNA in a research note on Thursday, November 14th.
TGNA traded up $0.11 during trading on Friday, hitting $18.06. 2,640,100 shares of the company’s stock were exchanged, compared to its average volume of 2,029,833. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.81. TEGNA has a 1 year low of $11.25 and a 1 year high of $18.30. The stock has a 50 day moving average price of $16.38 and a 200 day moving average price of $15.46. The firm has a market cap of $3.89 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44.
TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. TEGNA had a net margin of 16.15% and a return on equity of 24.84%. The company had revenue of $551.86 million during the quarter, compared to the consensus estimate of $540.52 million. During the same period in the previous year, the firm earned $0.40 earnings per share. TEGNA’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts forecast that TEGNA will post 1.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.07 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.55%. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.
Hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its stake in shares of TEGNA by 11.3% in the third quarter. Parametric Portfolio Associates LLC now owns 1,393,566 shares of the company’s stock valued at $21,642,000 after purchasing an additional 141,183 shares during the period. Alden Global Capital LLC purchased a new position in shares of TEGNA in the second quarter valued at $8,711,000. Natixis Advisors L.P. boosted its stake in shares of TEGNA by 1.1% in the second quarter. Natixis Advisors L.P. now owns 359,930 shares of the company’s stock valued at $5,454,000 after purchasing an additional 3,873 shares during the period. Squarepoint Ops LLC boosted its stake in shares of TEGNA by 3.9% in the third quarter. Squarepoint Ops LLC now owns 255,668 shares of the company’s stock valued at $3,971,000 after purchasing an additional 9,547 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of TEGNA by 28.6% in the third quarter. Stifel Financial Corp now owns 58,563 shares of the company’s stock valued at $904,000 after purchasing an additional 13,013 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.
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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