TEGNA (NYSE:TGNA) Reaches New 12-Month Low at $15.09

TEGNA Inc. (NYSE:TGNA – Get Rating)’s stock price hit a new 52-week low on Friday . The company traded as low as $15.09 and last traded at $15.16, with a volume of 486893 shares trading hands. The stock had previously closed at $15.32.

Wall Street Analysts Forecast Growth

TGNA has been the topic of a number of analyst reports. Guggenheim lowered their price target on TEGNA from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 28th. StockNews.com assumed coverage on TEGNA in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on TEGNA from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, February 27th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.00.

TEGNA Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 3.33 and a quick ratio of 3.33. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 5.46 and a beta of 0.63. The business has a 50 day simple moving average of $19.12 and a 200 day simple moving average of $20.04.

TEGNA (NYSE:TGNA – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. TEGNA had a return on equity of 22.51% and a net margin of 19.23%. The business had revenue of $917.30 million for the quarter, compared to analyst estimates of $944.90 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts forecast that TEGNA Inc. will post 1.75 EPS for the current year.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, March 9th. TEGNA’s payout ratio is 13.52%.

Hedge Funds Weigh In On TEGNA

Several hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in shares of TEGNA by 144.5% in the third quarter. Assetmark Inc. now owns 602,424 shares of the company’s stock worth $12,458,000 after acquiring an additional 356,032 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of TEGNA by 54.8% during the third quarter. FNY Investment Advisers LLC now owns 98,290 shares of the company’s stock worth $2,032,000 after buying an additional 34,790 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of TEGNA during the third quarter worth about $500,000. Aurora Investment Counsel grew its holdings in shares of TEGNA by 2.5% during the third quarter. Aurora Investment Counsel now owns 117,628 shares of the company’s stock worth $2,433,000 after buying an additional 2,853 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of TEGNA by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 3,068,049 shares of the company’s stock worth $63,448,000 after buying an additional 79,594 shares in the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.

About TEGNA

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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.