TEGNA Inc. (NYSE:TGNA) Receives $18.25 Average Target Price from Analysts

Shares of TEGNA Inc. (NYSE:TGNA) have received an average rating of “Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.25.

Several analysts have commented on TGNA shares. Benchmark lifted their price objective on shares of TEGNA to and gave the company a “buy” rating in a research note on Friday, January 10th. ValuEngine upgraded shares of TEGNA from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of TEGNA in a research note on Monday, October 28th. They issued a “neutral” rating and a $18.00 price target on the stock. Barrington Research reiterated a “buy” rating and issued a $20.00 price target on shares of TEGNA in a research note on Thursday, November 14th. Finally, Zacks Investment Research upgraded shares of TEGNA from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Friday, January 3rd.

TEGNA stock traded up $0.94 during mid-day trading on Friday, hitting $17.94. The company’s stock had a trading volume of 3,676,600 shares, compared to its average volume of 1,937,990. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. The business has a 50 day moving average price of $16.23 and a 200-day moving average price of $15.42. TEGNA has a 12 month low of $11.25 and a 12 month high of $18.30.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. TEGNA had a net margin of 16.15% and a return on equity of 24.84%. The firm had revenue of $551.86 million for the quarter, compared to analysts’ expectations of $540.52 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that TEGNA will post 1.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.56%. TEGNA’s dividend payout ratio (DPR) is presently 15.30%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tocqueville Asset Management L.P. grew its holdings in TEGNA by 0.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 756,875 shares of the company’s stock valued at $12,632,000 after buying an additional 2,300 shares during the period. Nomura Holdings Inc. bought a new position in TEGNA during the third quarter worth about $914,000. Millennium Management LLC bought a new position in TEGNA during the third quarter worth about $266,000. Squarepoint Ops LLC lifted its holdings in TEGNA by 3.9% during the third quarter. Squarepoint Ops LLC now owns 255,668 shares of the company’s stock worth $3,971,000 after acquiring an additional 9,547 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in TEGNA by 11.3% during the third quarter. Parametric Portfolio Associates LLC now owns 1,393,566 shares of the company’s stock worth $21,642,000 after acquiring an additional 141,183 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

About TEGNA

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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Analyst Recommendations for TEGNA (NYSE:TGNA)

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