TEGNA (NYSE:TGNA) Hits New 12-Month High – Time to Buy?

TEGNA Inc. (NYSE:TGNA) hit a new 52-week high during trading on Friday . The stock traded as high as $21.90 and last traded at $21.8950, with a volume of 33969 shares. The stock had previously closed at $20.03.

Key Stories Impacting TEGNA

Here are the key news stories impacting TEGNA this week:

• Positive Sentiment: Federal approvals and closing reduce near-term regulatory uncertainty and explain upward pressure on TGNA. Nexstar and Tegna said the merger has closed after FCC and DOJ sign-offs. Nexstar, Tegna merger closes after winning regulatory approval
• Positive Sentiment: Trading was briefly halted with the reason “Merger Effective,” confirming the transaction moved to closing and likely fueled after-hours and session gains. Nexstar Says Tegna Merger Has Closed With Federal Approval
• Neutral Sentiment: The FCC’s approval included a waiver of an ownership cap and specific station divestiture/transfer conditions — procedural items that enabled closing but may require post-close operational adjustments. FCC Gives Greenlight To Nexstar-Tegna Merger Amid Challenge From California And Other States
• Negative Sentiment: Eight state attorneys general have filed suit and asked a federal judge for a temporary restraining order to block the deal, arguing it creates excessive local-market concentration — a legal risk that could unwind the transaction or force further remedies. Eight States Seek Restraining Order to Stop $6.2 Billion Nexstar-Tegna Combination Eight states ask US judge to temporarily block Nexstar, Tegna merger
• Negative Sentiment: Additional litigation includes a multi-state lawsuit filed earlier and a separate antitrust suit by DirecTV — multiple parallel legal actions increase the chance of a court-ordered remedy or delay, creating significant downside risk for TGNA shareholders despite the close. Eight states sue to block Nexstar’s plan to acquire rival Tegna DirecTV files suit to block Nexstar-Tegna deal

Analysts Set New Price Targets

TGNA has been the topic of a number of research analyst reports. 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 reiterated a “hold (c)” rating on shares of TEGNA in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, TEGNA currently has an average rating of “Hold” and an average target price of $19.75.

TEGNA Stock Performance

The company 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 debt-to-equity ratio of 0.80, a quick ratio of 2.28 and a current ratio of 2.28. The company has a fifty day moving average of $20.05 and a two-hundred day moving average of $19.99.

TEGNA (NYSE:TGNA) last issued its earnings results on Monday, March 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $706.11 million during the quarter, compared to analysts’ expectations of $701.29 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities research analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Announces Dividend

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

Institutional Investors Weigh In On TEGNA

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its position in TEGNA by 11.0% in the 4th quarter. Hsbc Holdings PLC now owns 1,176,186 shares of the company’s stock valued at $22,830,000 after acquiring an additional 116,965 shares during the period. DGS Capital Management LLC raised its stake in shares of TEGNA by 8.2% during the fourth quarter. DGS Capital Management LLC now owns 24,125 shares of the company’s stock valued at $468,000 after acquiring an additional 1,834 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of TEGNA by 18.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 22,413 shares of the company’s stock worth $435,000 after purchasing an additional 3,465 shares during the period. Verdad Advisers LP acquired a new position in shares of TEGNA during the fourth quarter worth $48,719,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of TEGNA in the fourth quarter worth $6,322,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

About TEGNA

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.