S. Muoio & CO. LLC lifted its holdings in TEGNA Inc. (NYSE:TGNA) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,954 shares of the company’s stock after acquiring an additional 5,000 shares during the period. TEGNA makes up 1.4% of S. Muoio & CO. LLC’s portfolio, making the stock its 22nd biggest position. S. Muoio & CO. LLC owned about 0.05% of TEGNA worth $1,681,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TGNA. DekaBank Deutsche Girozentrale purchased a new position in shares of TEGNA in the second quarter valued at $85,000. Balasa Dinverno & Foltz LLC bought a new position in TEGNA during the 1st quarter valued at $144,000. Advisor Group Inc. boosted its stake in TEGNA by 172.1% during the 2nd quarter. Advisor Group Inc. now owns 10,406 shares of the company’s stock valued at $157,000 after acquiring an additional 6,581 shares during the last quarter. Sciencast Management LP bought a new position in TEGNA during the 1st quarter valued at $158,000. Finally, Piedmont Investment Advisors Inc. bought a new position in TEGNA during the 1st quarter valued at $174,000. 96.76% of the stock is owned by institutional investors.
A number of research analysts have commented on the stock. Noble Financial set a $20.00 price objective on shares of TEGNA and gave the company a “buy” rating in a research note on Friday, May 10th. Stephens downgraded shares of TEGNA from an “overweight” rating to an “equal” rating and reduced their price objective for the company from $19.00 to $17.00 in a research note on Tuesday, June 11th. Barrington Research reiterated a “buy” rating and set a $18.00 price objective on shares of TEGNA in a research note on Tuesday, August 6th. Zacks Investment Research downgraded shares of TEGNA from a “hold” rating to a “sell” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, August 7th. Finally, ValuEngine downgraded shares of TEGNA from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.17.
Shares of NYSE:TGNA traded up $0.30 on Friday, reaching $13.91. 33,599 shares of the company’s stock were exchanged, compared to its average volume of 2,069,380. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.12 and a beta of 1.46. TEGNA Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $16.57. The business’s 50-day moving average is $15.10 and its two-hundred day moving average is $14.68. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 2.05.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 6th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The company had revenue of $536.90 million for the quarter, compared to analysts’ expectations of $534.10 million. TEGNA had a net margin of 18.24% and a return on equity of 28.43%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts predict that TEGNA Inc. will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.01%. TEGNA’s dividend payout ratio (DPR) is 15.30%.
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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