TEGNA Inc. (NYSE:TGNA) was the target of a significant decline in short interest in November. As of November 29th, there was short interest totalling 12,920,000 shares, a decline of 7.4% from the November 14th total of 13,960,000 shares. Based on an average daily volume of 1,610,000 shares, the short-interest ratio is currently 8.0 days. Approximately 6.0% of the shares of the stock are sold short.

Several research analysts have commented on the stock. Wells Fargo & Co assumed coverage on shares of TEGNA in a research report on Tuesday, September 24th. They set a “market perform” rating and a $17.00 price objective for the company. Zacks Investment Research upgraded shares of TEGNA from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, November 4th. Wolfe Research raised shares of TEGNA from a “market perform” rating to an “outperform” rating in a research note on Monday, August 19th. Cannonball Research assumed coverage on shares of TEGNA in a research note on Wednesday, August 21st. They set a “neutral” rating and a $17.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of TEGNA in a research note on Monday, October 28th. They set a “neutral” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.44.

Several institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. bought a new stake in shares of TEGNA in the third quarter worth $914,000. Millennium Management LLC acquired a new position in shares of TEGNA during the third quarter valued at about $266,000. Squarepoint Ops LLC raised its holdings in shares of TEGNA by 3.9% during 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. Parametric Portfolio Associates LLC raised its holdings in shares of TEGNA by 11.3% during 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. Finally, California State Teachers Retirement System raised its holdings in shares of TEGNA by 1.2% during the third quarter. California State Teachers Retirement System now owns 338,868 shares of the company’s stock valued at $5,263,000 after purchasing an additional 4,047 shares during the period. 99.49% of the stock is currently owned by institutional investors.

Shares of TEGNA stock traded up $0.02 during trading on Friday, hitting $16.18. The company’s stock had a trading volume of 1,845,745 shares, compared to its average volume of 1,446,242. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.73 and a quick ratio of 1.73. TEGNA has a 52 week low of $10.24 and a 52 week high of $16.58. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.43. The stock has a 50-day moving average price of $15.40 and a two-hundred day moving average price of $15.18.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.27 earnings per share 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 for the quarter, compared to analysts’ expectations of $540.52 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. TEGNA’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts predict that TEGNA will post 1.24 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $0.07 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.73%. TEGNA’s dividend payout ratio is 15.30%.

About TEGNA

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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