Stephens lowered shares of TEGNA (NYSE:TGNA) from an overweight rating to an equal rating in a research note released on Tuesday, Briefing.com Automated Import reports. Stephens currently has $17.00 price objective on the stock, down from their prior price objective of $19.00.
Several other equities analysts have also recently weighed in on TGNA. Noble Financial reaffirmed a buy rating and issued a $14.50 price objective on shares of TEGNA in a report on Thursday, February 28th. Zacks Investment Research cut TEGNA from a buy rating to a hold rating in a report on Thursday, February 28th. ValuEngine raised TEGNA from a strong sell rating to a sell rating in a report on Thursday, February 28th. Barrington Research reaffirmed a buy rating and issued a $17.00 price objective on shares of TEGNA in a report on Friday, March 1st. Finally, Evercore ISI raised TEGNA from an in-line rating to an outperform rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $15.63.
NYSE:TGNA opened at $14.92 on Tuesday. The company has a market cap of $3.35 billion, a P/E ratio of 8.15, a PEG ratio of 1.23 and a beta of 1.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.12. TEGNA has a 1-year low of $10.24 and a 1-year high of $16.57.
TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $516.80 million during the quarter, compared to analysts’ expectations of $512.45 million. TEGNA had a return on equity of 30.61% and a net margin of 18.91%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. As a group, equities research analysts forecast that TEGNA will post 1.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $0.07 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.88%. TEGNA’s payout ratio is 15.30%.
Several institutional investors and hedge funds have recently modified their holdings of TGNA. JPMorgan Chase & Co. grew its position in TEGNA by 97.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,112,667 shares of the company’s stock worth $13,307,000 after acquiring an additional 548,997 shares during the last quarter. Bank of Montreal Can grew its position in TEGNA by 1.6% during the 4th quarter. Bank of Montreal Can now owns 74,046 shares of the company’s stock worth $805,000 after acquiring an additional 1,165 shares during the last quarter. Arizona State Retirement System grew its position in TEGNA by 1.1% during the 4th quarter. Arizona State Retirement System now owns 154,530 shares of the company’s stock worth $1,680,000 after acquiring an additional 1,680 shares during the last quarter. Rhumbline Advisers grew its position in TEGNA by 65.8% during the 4th quarter. Rhumbline Advisers now owns 655,802 shares of the company’s stock worth $7,129,000 after acquiring an additional 260,161 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in TEGNA by 11.9% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 161,871 shares of the company’s stock worth $1,760,000 after acquiring an additional 17,178 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.
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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