Tegna Inc. (NYSE:TGNA) was downgraded by research analysts at JPMorgan Chase & Co. to a “neutral” rating in a research report issued to clients and investors on Wednesday.

TGNA has been the subject of a number of other reports. FBR & Co decreased their price objective on Tegna from $25.00 to $24.00 and set a “mkt perform” rating for the company in a report on Wednesday, July 27th. Wells Fargo & Co. restated a “hold” rating on shares of Tegna in a report on Monday, September 26th. Argus restated a “buy” rating and issued a $33.00 price objective on shares of Tegna in a report on Saturday, August 13th. TheStreet downgraded Tegna from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Finally, Barclays PLC restated a “sell” rating and issued a $20.00 price objective on shares of Tegna in a report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Tegna presently has an average rating of “Hold” and a consensus price target of $25.63.

Analyst Recommendations for Tegna (NYSE:TGNA)

Tegna (NYSE:TGNA) opened at 22.62 on Wednesday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 11.21 and a beta of 1.66. Tegna has a 12-month low of $17.91 and a 12-month high of $28.95. The firm’s 50-day moving average price is $20.51 and its 200 day moving average price is $21.75.

Tegna (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The company earned $860.27 million during the quarter, compared to the consensus estimate of $871.27 million. Tegna had a net margin of 14.33% and a return on equity of 19.14%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, analysts expect that Tegna will post $2.27 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.48%. Tegna’s dividend payout ratio (DPR) is presently 26.67%.

Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its position in Tegna by 44.6% in the third quarter. Advisor Group Inc. now owns 5,436 shares of the company’s stock worth $115,000 after buying an additional 1,676 shares during the period. Virtus Investment Advisers Inc. bought a new position in Tegna during the third quarter worth about $121,000. Fuller & Thaler Asset Management Inc. boosted its position in Tegna by 221.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 6,100 shares of the company’s stock worth $133,000 after buying an additional 4,200 shares during the period. Toronto Dominion Bank boosted its position in Tegna by 440.0% in the third quarter. Toronto Dominion Bank now owns 6,194 shares of the company’s stock worth $135,000 after buying an additional 5,047 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new position in Tegna during the second quarter worth about $151,000. 87.80% of the stock is currently owned by institutional investors.

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About Tegna

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.

5 Day Chart for NYSE:TGNA

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