Shares of Tegna Inc. (NYSE:TGNA) have received a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $26.86.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Tegna from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 15th. Jefferies Group lowered their price target on Tegna from $26.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, July 27th. FBR & Co lowered their price target on Tegna from $25.00 to $24.00 and set a “mkt perform” rating on the stock in a research note on Wednesday, July 27th. Evercore ISI lowered Tegna from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Friday, June 10th. Finally, TheStreet lowered Tegna from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd.
Tegna (NYSE:TGNA) opened at 22.02 on Monday. The firm has a 50-day moving average price of $21.23 and a 200 day moving average price of $22.47. The company has a market cap of $4.72 billion, a P/E ratio of 11.89 and a beta of 1.70. Tegna has a 12 month low of $20.10 and a 12 month high of $28.95.
Tegna (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Tegna had a return on equity of 17.02% and a net margin of 13.69%. The company had revenue of $811.79 million for the quarter, compared to analyst estimates of $814.56 million. During the same period last year, the company earned $0.30 earnings per share. Tegna’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Tegna will post $2.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Wednesday, September 7th. Tegna’s dividend payout ratio (DPR) is presently 28.72%.
A number of large investors have recently made changes to their positions in TGNA. Vanguard Group Inc. boosted its stake in shares of Tegna by 2.6% in the second quarter. Vanguard Group Inc. now owns 19,514,232 shares of the company’s stock worth $452,145,000 after buying an additional 485,564 shares during the period. Boston Partners boosted its stake in shares of Tegna by 329.5% in the second quarter. Boston Partners now owns 6,697,252 shares of the company’s stock worth $155,176,000 after buying an additional 5,137,873 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Tegna by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,077,463 shares of the company’s stock worth $142,577,000 after buying an additional 24,355 shares during the period. Fairpointe Capital LLC boosted its stake in shares of Tegna by 16.2% in the second quarter. Fairpointe Capital LLC now owns 5,140,932 shares of the company’s stock worth $119,115,000 after buying an additional 718,293 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tegna by 23.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,470,207 shares of the company’s stock worth $103,561,000 after buying an additional 850,354 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.
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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