TEGNA (NYSE:TGNA) Cut to Hold at Guggenheim

Guggenheim cut shares of TEGNA (NYSE:TGNA) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company restated an “overweight” rating and issued a $22.00 price objective (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Benchmark cut their price target on TEGNA from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on TEGNA from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, TEGNA currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

TEGNA Price Performance

NYSE TGNA opened at $21.0650 on Thursday. The company has a 50-day moving average price of $17.54 and a 200-day moving average price of $17.29. TEGNA has a 52 week low of $13.44 and a 52 week high of $21.19. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $3.39 billion, a P/E ratio of 7.58 and a beta of 0.28.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The company had revenue of $675.05 million for the quarter, compared to the consensus estimate of $673.92 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. TEGNA has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that TEGNA will post 3.02 earnings per share for the current year.

Hedge Funds Weigh In On TEGNA

A number of hedge funds have recently made changes to their positions in the business. Meritage Portfolio Management boosted its stake in shares of TEGNA by 2.7% in the second quarter. Meritage Portfolio Management now owns 25,801 shares of the company’s stock worth $432,000 after acquiring an additional 688 shares during the period. PNC Financial Services Group Inc. grew its stake in TEGNA by 15.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,058 shares of the company’s stock valued at $92,000 after acquiring an additional 694 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in TEGNA by 12.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,295 shares of the company’s stock valued at $106,000 after acquiring an additional 706 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock worth $31,000 after purchasing an additional 749 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in TEGNA by 2.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 36,978 shares of the company’s stock worth $620,000 after purchasing an additional 838 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Company Profile

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.