TEGNA (NYSE:TGNA) Earns Neutral Rating from Guggenheim

TEGNA (NYSE:TGNA)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports. They presently have a $19.00 price objective on the stock. Guggenheim’s target price would suggest a potential downside of 9.80% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $22.00 price target (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Benchmark lowered their price target on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of TEGNA from $19.00 to $18.00 and set a “neutral” rating for the company in a research 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 stock. Based on data from MarketBeat.com, TEGNA currently has an average rating of “Moderate Buy” and an average price target of $19.75.

TEGNA Price Performance

Shares of TGNA opened at $21.0650 on Friday. 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 fifty-two week low of $13.44 and a fifty-two week high of $21.19. The stock has a market capitalization of $3.39 billion, a PE ratio of 7.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

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

Institutional Investors Weigh In On TEGNA

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management lifted its position in TEGNA by 0.4% during the first quarter. LSV Asset Management now owns 7,828,750 shares of the company’s stock valued at $142,640,000 after acquiring an additional 32,121 shares during the last quarter. Geode Capital Management LLC increased its stake in TEGNA by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,008,137 shares of the company’s stock valued at $83,944,000 after purchasing an additional 82,140 shares in the last quarter. Wasatch Advisors LP increased its stake in TEGNA by 5,517.6% during the 2nd quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company’s stock valued at $54,340,000 after purchasing an additional 3,184,505 shares in the last quarter. Northern Trust Corp increased its stake in TEGNA by 8.3% during the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company’s stock valued at $52,407,000 after purchasing an additional 219,706 shares in the last quarter. Finally, Millennium Management LLC increased its stake in TEGNA by 51.5% during the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company’s stock valued at $46,442,000 after purchasing an additional 866,970 shares in the last quarter. Hedge funds and other 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.