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

TEGNA Inc. (NYSE:TGNA) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $19.75.

Several research analysts have recently commented on the company. Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th.

TEGNA Price Performance

Shares of TGNA opened at $19.08 on Thursday. The firm has a 50-day simple moving average of $19.22 and a two-hundred day simple moving average of $19.61. The stock has a market cap of $3.07 billion, a PE ratio of 9.00 and a beta of 0.15. TEGNA has a 1-year low of $14.87 and a 1-year high of $21.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.22 and a quick ratio of 2.22.

TEGNA (NYSE:TGNA) last posted its quarterly earnings data 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). TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The company had revenue of $650.79 million for the quarter, compared to analysts’ expectations of $658.28 million. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue for the quarter was down 19.3% on a year-over-year basis. As a group, analysts forecast that TEGNA will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.50 annualized dividend and a dividend yield of 2.6%. TEGNA’s dividend payout ratio (DPR) is presently 23.58%.

Institutional Investors Weigh In On TEGNA

Large investors have recently added to or reduced their stakes in the business. Amundi boosted its position in TEGNA by 1,507.5% in the 1st quarter. Amundi now owns 4,067 shares of the company’s stock valued at $74,000 after buying an additional 3,814 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TEGNA by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,968 shares of the company’s stock valued at $1,749,000 after acquiring an additional 1,726 shares in the last quarter. United Services Automobile Association purchased a new position in TEGNA in the first quarter valued at $183,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in TEGNA by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,881 shares of the company’s stock valued at $9,837,000 after purchasing an additional 21,303 shares during the period. Finally, Jane Street Group LLC grew its stake in TEGNA by 193.0% during the 1st quarter. Jane Street Group LLC now owns 573,255 shares of the company’s stock worth $10,445,000 after purchasing an additional 377,578 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.