Tegna Inc. (NYSE:TGNA) Given Consensus Rating of “Hold” by Analysts
Tegna Inc. (NYSE:TGNA) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the company. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $26.86.
TGNA has been the subject of a number of analyst reports. Benchmark Co. initiated coverage on Tegna in a research note on Friday, August 19th. They set a “buy” rating and a $26.00 price objective for the company. Argus reiterated a “buy” rating and issued a $33.00 price target on shares of Tegna in a research note on Saturday, August 13th. Zacks Investment Research upgraded Tegna from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, July 13th. Wells Fargo & Co. reiterated a “hold” rating on shares of Tegna in a research note on Monday, September 26th. Finally, FBR & Co reiterated a “hold” rating and issued a $24.00 price target on shares of Tegna in a research note on Thursday, September 8th.
Tegna (NYSE:TGNA) traded up 0.023% during midday trading on Monday, hitting $21.865. The company’s stock had a trading volume of 597,238 shares. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 11.806 and a beta of 1.70. Tegna has a one year low of $20.10 and a one year high of $28.95. The company’s 50-day moving average is $21.16 and its 200 day moving average is $22.52.
Tegna (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm earned $811.79 million during the quarter, compared to analysts’ expectations of $814.56 million. Tegna had a return on equity of 17.02% and a net margin of 13.69%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. On average, analysts predict that Tegna will post $2.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, September 7th. Tegna’s dividend payout ratio is presently 28.72%.
Several hedge funds and other institutional investors have recently made changes to their positions in TGNA. Conning Inc. raised its stake in Tegna by 1.1% in the second quarter. Conning Inc. now owns 9,978 shares of the company’s stock valued at $231,000 after buying an additional 110 shares during the period. Norinchukin Bank The raised its stake in Tegna by 1.2% in the second quarter. Norinchukin Bank The now owns 11,412 shares of the company’s stock valued at $264,000 after buying an additional 136 shares during the period. CIBC Asset Management Inc raised its stake in Tegna by 0.8% in the second quarter. CIBC Asset Management Inc now owns 22,854 shares of the company’s stock valued at $530,000 after buying an additional 180 shares during the period. Advantus Capital Management Inc raised its stake in Tegna by 1.1% in the second quarter. Advantus Capital Management Inc now owns 21,292 shares of the company’s stock valued at $493,000 after buying an additional 232 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in Tegna by 2.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,638 shares of the company’s stock valued at $385,000 after buying an additional 470 shares during the period. 87.80% of the stock is currently owned by institutional investors and hedge funds.
Tegna Company Profile
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). Its media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.
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