TEGNA (NYSE:TGNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

TEGNA (NYSE:TGNA) had its price target upped by JPMorgan Chase & Co. from $16.00 to $19.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th.

TEGNA Price Performance

Shares of NYSE TGNA opened at $18.11 on Tuesday. TEGNA has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a market cap of $2.92 billion, a PE ratio of 6.40 and a beta of 0.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a fifty day moving average price of $15.97 and a 200 day moving average price of $14.92.

TEGNA (NYSE:TGNA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that TEGNA will post 3.07 EPS for the current year.

Insider Buying and Selling at TEGNA

In other 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 sale, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of TEGNA by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 26,798,623 shares of the company’s stock worth $400,371,000 after purchasing an additional 1,471,691 shares during the period. Pacer Advisors Inc. raised its position in shares of TEGNA by 2,898.4% in the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock valued at $170,521,000 after purchasing an additional 10,445,739 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TEGNA by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock valued at $143,714,000 after acquiring an additional 141,638 shares during the last quarter. LSV Asset Management grew its stake in TEGNA by 29.5% in the second quarter. LSV Asset Management now owns 8,024,562 shares of the company’s stock worth $111,862,000 after purchasing an additional 1,827,471 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in TEGNA by 18.7% in the first quarter. Gamco Investors INC. ET AL now owns 2,441,675 shares of the company’s stock worth $36,479,000 after purchasing an additional 384,687 shares during the period. 92.19% of the stock is currently owned by hedge funds and other 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.