Analysts Set TEGNA Inc. (NYSE:TGNA) Price Target at $19.75

Shares of TEGNA Inc. (NYSE:TGNA) have earned a consensus recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $19.75.

TGNA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. Zacks Research raised shares of TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TGNA. Hsbc Holdings PLC increased its position in shares of TEGNA by 11.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,176,186 shares of the company’s stock valued at $22,830,000 after purchasing an additional 116,965 shares during the last quarter. DGS Capital Management LLC grew its position in TEGNA by 8.2% during the fourth quarter. DGS Capital Management LLC now owns 24,125 shares of the company’s stock valued at $468,000 after buying an additional 1,834 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in TEGNA by 18.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 22,413 shares of the company’s stock worth $435,000 after buying an additional 3,465 shares during the last quarter. Verdad Advisers LP bought a new stake in TEGNA in the fourth quarter worth about $48,719,000. Finally, Tudor Investment Corp ET AL bought a new stake in TEGNA in the fourth quarter worth about $6,322,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Trading Up 9.3%

NYSE TGNA opened at $21.90 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $20.47 and a 200 day simple moving average of $20.02. TEGNA has a 12 month low of $14.87 and a 12 month high of $21.90. The firm has a market capitalization of $3.55 billion, a P/E ratio of 16.22 and a beta of 0.12.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $706.11 million for the quarter, compared to the consensus estimate of $701.29 million. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. On average, analysts predict that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 10th. TEGNA’s dividend payout ratio (DPR) is presently 37.04%.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.