TEGNA Inc. (NYSE:TGNA) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.13.
TGNA has been the subject of several research reports. Barrington Research reaffirmed a “buy” rating and issued a $18.00 target price on shares of TEGNA in a research report on Tuesday, August 6th. Wells Fargo & Co initiated coverage on TEGNA in a research report on Tuesday, September 24th. They issued a “market perform” rating and a $17.00 target price for the company. Wolfe Research raised TEGNA from a “market perform” rating to an “outperform” rating in a research report on Monday, August 19th. Cannonball Research initiated coverage on TEGNA in a research report on Wednesday, August 21st. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Stephens cut TEGNA from an “overweight” rating to an “equal” rating and reduced their target price for the stock from $19.00 to $17.00 in a research report on Tuesday, June 11th.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in TEGNA by 0.4% during the second quarter. BlackRock Inc. now owns 25,904,017 shares of the company’s stock worth $392,444,000 after acquiring an additional 97,933 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TEGNA by 3.9% in the second quarter. Vanguard Group Inc. now owns 22,630,199 shares of the company’s stock valued at $342,848,000 after buying an additional 841,666 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of TEGNA by 14.4% in the second quarter. AQR Capital Management LLC now owns 10,710,361 shares of the company’s stock valued at $159,691,000 after buying an additional 1,349,780 shares in the last quarter. Standard General L.P. acquired a new stake in shares of TEGNA in the second quarter valued at $134,378,000. Finally, LSV Asset Management increased its stake in shares of TEGNA by 5.8% in the second quarter. LSV Asset Management now owns 6,629,361 shares of the company’s stock valued at $100,434,000 after buying an additional 362,300 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.
TEGNA (NYSE:TGNA) last issued its earnings results on Tuesday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $536.90 million during the quarter, compared to analysts’ expectations of $534.10 million. TEGNA had a return on equity of 28.43% and a net margin of 18.24%. TEGNA’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Equities research analysts anticipate that TEGNA will post 1.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.28 annualized dividend and a yield of 1.91%. TEGNA’s dividend payout ratio is currently 15.30%.
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.
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