TEGNA (NYSE:TGNA) Downgraded to “Hold” Rating by Guggenheim

TEGNA (NYSE:TGNA) was downgraded by analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Benchmark dropped their price objective on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

TEGNA Trading Up 0.0%

TGNA opened at $21.0650 on Thursday. The firm’s fifty day moving average is $17.54 and its two-hundred day moving average is $17.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $3.39 billion, a PE ratio of 7.58 and a beta of 0.28. TEGNA has a twelve month low of $13.44 and a twelve month high of $21.19.

TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The company had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. TEGNA has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that TEGNA will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TGNA. Public Sector Pension Investment Board boosted its position in TEGNA by 48.7% during the first quarter. Public Sector Pension Investment Board now owns 596,868 shares of the company’s stock worth $10,875,000 after purchasing an additional 195,396 shares during the period. Principal Financial Group Inc. grew its stake in TEGNA by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 934,711 shares of the company’s stock valued at $17,030,000 after buying an additional 23,094 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in TEGNA in the 1st quarter valued at about $5,371,000. Deutsche Bank AG grew its stake in TEGNA by 383.6% in the 1st quarter. Deutsche Bank AG now owns 756,941 shares of the company’s stock valued at $13,791,000 after buying an additional 600,407 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in TEGNA by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,376 shares of the company’s stock valued at $341,000 after buying an additional 6,433 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors.

TEGNA Company Profile

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.