TEGNA Inc. (NYSE:TGNA) Given Average Recommendation of “Buy” by Brokerages

TEGNA Inc. (NYSE:TGNAGet Rating) has received an average recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.33.

Several equities research analysts recently commented on the company. StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a research report on Tuesday, May 24th. Huber Research raised TEGNA from an “underweight” rating to an “overweight” rating in a research report on Monday. Argus downgraded TEGNA from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Finally, Wells Fargo & Company downgraded TEGNA from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $23.00 to $24.00 in a research note on Wednesday, May 4th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of TEGNA during the 1st quarter worth approximately $2,154,000. Gabelli Funds LLC increased its holdings in shares of TEGNA by 363.5% during the 1st quarter. Gabelli Funds LLC now owns 861,901 shares of the company’s stock worth $19,307,000 after buying an additional 675,964 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in TEGNA by 596.5% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 396,039 shares of the company’s stock valued at $8,871,000 after purchasing an additional 339,176 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in TEGNA by 20.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 525,469 shares of the company’s stock valued at $11,771,000 after purchasing an additional 88,069 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC boosted its position in TEGNA by 74.2% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 106,834 shares of the company’s stock valued at $2,393,000 after buying an additional 45,516 shares during the last quarter. Institutional investors and hedge funds own 89.25% of the company’s stock.

Shares of NYSE:TGNA traded down $0.13 during midday trading on Monday, reaching $21.69. The company had a trading volume of 34,271 shares, compared to its average volume of 2,800,316. TEGNA has a 52-week low of $16.42 and a 52-week high of $23.04. The company’s 50 day moving average price is $22.00 and its 200 day moving average price is $21.02. The stock has a market cap of $4.83 billion, a P/E ratio of 9.68 and a beta of 0.87. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.17.

TEGNA (NYSE:TGNAGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The company had revenue of $774.30 million during the quarter, compared to analyst estimates of $765.83 million. TEGNA had a return on equity of 20.19% and a net margin of 16.41%. TEGNA’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Research analysts forecast that TEGNA will post 2.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.38 dividend on an annualized basis and a yield of 1.75%. TEGNA’s dividend payout ratio (DPR) is presently 16.96%.

TEGNA Company Profile (Get Rating)

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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