TEGNA (NYSE:TGNA) Given New $23.00 Price Target at Benchmark

TEGNA (NYSE:TGNA) had its price target upped by Benchmark from $21.00 to $23.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

TEGNA Trading Down 2.5 %

NYSE TGNA traded down $0.49 on Friday, reaching $18.83. The company had a trading volume of 3,444,783 shares, compared to its average volume of 1,524,076. The stock’s 50 day moving average is $15.61 and its 200-day moving average is $14.79. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 7.78 and a beta of 0.49. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that TEGNA will post 3.07 earnings per share for the current year.

Insider Activity

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 50,016 shares of company stock valued at $757,218 over the last three months. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY grew its holdings in TEGNA by 1.8% during the second quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after buying an additional 726 shares in the last quarter. US Bancorp DE raised its stake in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares during the period. Manchester Financial Inc. raised its stake in shares of TEGNA by 0.9% during the 2nd quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock valued at $1,648,000 after purchasing an additional 1,047 shares during the period. O Keefe Stevens Advisory Inc. grew its position in TEGNA by 7.4% during the second quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock worth $223,000 after buying an additional 1,099 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of TEGNA by 3.0% in the 1st quarter. ProShare Advisors LLC now owns 45,113 shares of the company’s stock worth $674,000 after purchasing an additional 1,306 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

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.