Several other equities analysts have also commented on TGNA. Jefferies Group LLC reaffirmed a hold rating and set a $26.00 price target on shares of TEGNA in a research report on Monday, April 3rd. FBR & Co dropped their price target on shares of TEGNA from $30.00 to $29.00 and set an outperform rating for the company in a research report on Friday, May 5th. Wells Fargo & Company reaffirmed an outperform rating and set a $16.50 price target on shares of TEGNA in a research report on Thursday, June 1st. ValuEngine lowered shares of TEGNA from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of TEGNA from a hold rating to a strong sell rating in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $23.31.
TEGNA (TGNA) opened at 14.51 on Thursday. The company’s 50 day moving average is $18.03 and its 200-day moving average is $22.58. TEGNA has a 52-week low of $14.02 and a 52-week high of $26.65. The stock has a market cap of $3.12 billion, a PE ratio of 7.75 and a beta of 1.74.
TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. TEGNA had a net margin of 12.25% and a return on equity of 19.16%. The firm had revenue of $778.50 million during the quarter, compared to analyst estimates of $799.54 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. TEGNA’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts anticipate that TEGNA will post $1.22 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.28 annualized dividend and a yield of 1.93%. TEGNA’s dividend payout ratio is currently 14.97%.
A number of large investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in TEGNA by 2.0% in the first quarter. Sei Investments Co. now owns 175,358 shares of the company’s stock valued at $4,493,000 after buying an additional 3,382 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in TEGNA during the first quarter valued at about $14,889,000. BNP Paribas Arbitrage SA increased its stake in TEGNA by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 179,586 shares of the company’s stock valued at $4,601,000 after buying an additional 18,019 shares in the last quarter. DnB Asset Management AS increased its stake in TEGNA by 27.5% in the first quarter. DnB Asset Management AS now owns 15,779 shares of the company’s stock valued at $404,000 after buying an additional 3,400 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in TEGNA by 9.3% in the first quarter. Schroder Investment Management Group now owns 2,076,776 shares of the company’s stock valued at $53,705,000 after buying an additional 176,474 shares in the last quarter. Institutional investors own 85.89% of the company’s stock.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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