TEGNA (NYSE:TGNA) Hits New 52-Week Low at $13.36

Shares of TEGNA Inc. (NYSE:TGNA) hit a new 52-week low during trading on Monday . The company traded as low as $13.36 and last traded at $13.40, with a volume of 1066758 shares traded. The stock had previously closed at $13.60.

Analyst Ratings Changes

A number of equities analysts have commented on TGNA shares. Benchmark reduced their target price on shares of TEGNA from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Wells Fargo & Company dropped their price objective on shares of TEGNA from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of TEGNA from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, March 1st.

TEGNA Stock Performance

The firm’s 50-day moving average is $14.32 and its 200 day moving average is $14.86. The stock has a market cap of $2.34 billion, a PE ratio of 5.96 and a beta of 0.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.48 and a current ratio of 2.48.

TEGNA (NYSE:TGNA) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The business had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $750.78 million. TEGNA had a net margin of 16.38% and a return on equity of 12.41%. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. As a group, research analysts anticipate that TEGNA Inc. will post 3.05 EPS for the current year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.114 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.46 annualized dividend and a yield of 3.44%. TEGNA’s dividend payout ratio is currently 20.35%.

Insider Transactions at TEGNA

In other news, CEO David T. Lougee sold 43,750 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the transaction, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David T. Lougee sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $15.21, for a total value of $2,281,500.00. Following the transaction, the chief executive officer now owns 636,262 shares in the company, valued at $9,677,545.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David T. Lougee sold 43,750 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $14.70, for a total transaction of $643,125.00. Following the completion of the sale, the chief executive officer now directly owns 725,651 shares of the company’s stock, valued at approximately $10,667,069.70. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of TEGNA

Large investors have recently bought and sold shares of the company. Sessa Capital IM L.P. bought a new position in TEGNA during the first quarter worth $61,186,000. Fuller & Thaler Asset Management Inc. lifted its stake in TEGNA by 555,167.0% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,554,228 shares of the company’s stock valued at $57,215,000 after buying an additional 2,553,768 shares during the last quarter. Norges Bank bought a new stake in TEGNA in the fourth quarter valued at $38,009,000. AQR Capital Management LLC lifted its stake in TEGNA by 190.5% in the third quarter. AQR Capital Management LLC now owns 3,224,755 shares of the company’s stock valued at $46,985,000 after buying an additional 2,114,826 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in TEGNA by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,294,455 shares of the company’s stock valued at $157,506,000 after buying an additional 1,501,986 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

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.