TEGNA Inc. (NYSE:TGNA) Receives $19.75 Consensus Target Price from Analysts

TEGNA Inc. (NYSE:TGNA) has been assigned an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.75.

TGNA has been the topic of several recent analyst reports. Wells Fargo & Company downgraded TEGNA from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Zacks Research cut shares of TEGNA from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Guggenheim reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of TEGNA in a report on Friday, August 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a report on Monday, November 17th.

TEGNA Stock Down 3.4%

Shares of TGNA stock opened at $19.29 on Friday. TEGNA has a 52 week low of $14.87 and a 52 week high of $21.35. 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 company’s fifty day simple moving average is $20.12 and its two-hundred day simple moving average is $18.72. The stock has a market cap of $3.11 billion, a P/E ratio of 6.94 and a beta of 0.25.

TEGNA (NYSE:TGNA) last posted its earnings results on Monday, November 10th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $650.79 million during the quarter, compared to the consensus estimate of $658.28 million. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business’s quarterly revenue was down 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 earnings per share. Analysts predict that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 5th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.50 dividend on an annualized basis and a yield of 2.6%. TEGNA’s dividend payout ratio is presently 23.58%.

Hedge Funds Weigh In On TEGNA

Hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of TEGNA by 4.2% in the first quarter. Envestnet Asset Management Inc. now owns 178,728 shares of the company’s stock valued at $3,256,000 after purchasing an additional 7,226 shares in the last quarter. Allianz Asset Management GmbH lifted its position in TEGNA by 90.0% in the first quarter. Allianz Asset Management GmbH now owns 280,152 shares of the company’s stock valued at $5,104,000 after buying an additional 132,710 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of TEGNA by 1.6% in the first quarter. AE Wealth Management LLC now owns 223,554 shares of the company’s stock valued at $4,073,000 after buying an additional 3,416 shares in the last quarter. Assetmark Inc. lifted its position in shares of TEGNA by 5.8% during the first quarter. Assetmark Inc. now owns 201,087 shares of the company’s stock worth $3,664,000 after purchasing an additional 11,068 shares in the last quarter. Finally, Neo Ivy Capital Management boosted its position in TEGNA by 1,362.4% in the 1st quarter. Neo Ivy Capital Management now owns 22,638 shares of the company’s stock valued at $412,000 after buying an additional 21,090 shares during the period. Institutional investors and hedge funds 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.