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

TEGNA Inc. (NYSE:TGNA) has been given an average recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $19.75.

Several analysts have commented on the stock. Zacks Research upgraded shares of TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th.

TEGNA Trading Up 9.3%

Shares of NYSE:TGNA opened at $21.90 on Friday. TEGNA has a 52-week low of $14.87 and a 52-week high of $21.90. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 16.22 and a beta of 0.12. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $20.35 and a 200-day moving average price of $20.01.

TEGNA (NYSE:TGNA) last issued its earnings results on Monday, March 2nd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. TEGNA had a return on equity of 8.60% and a net margin of 8.11%.The firm had revenue of $706.11 million for the quarter, compared to analyst estimates of $701.29 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. TEGNA’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities analysts predict that TEGNA will post 3.02 EPS for the current year.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.3%. TEGNA’s dividend payout ratio (DPR) is presently 37.04%.

Institutional Trading of TEGNA

A number of hedge funds have recently modified their holdings of the stock. Financial Consulate Inc. acquired a new stake in TEGNA during the third quarter worth about $29,000. Federated Hermes Inc. lifted its holdings in TEGNA by 85.4% in the third quarter. Federated Hermes Inc. now owns 1,852 shares of the company’s stock valued at $38,000 after acquiring an additional 853 shares during the period. Smartleaf Asset Management LLC lifted its holdings in TEGNA by 160.4% in the third quarter. Smartleaf Asset Management LLC now owns 2,377 shares of the company’s stock valued at $48,000 after acquiring an additional 1,464 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in TEGNA in the 3rd quarter worth approximately $51,000. Finally, Bayforest Capital Ltd purchased a new stake in TEGNA in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

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.