Tegna Inc (NYSE:TGNA) has been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $27.88.
A number of analysts have commented on TGNA shares. FBR & Co reaffirmed a “buy” rating and set a $30.00 price objective on shares of Tegna in a research note on Wednesday, March 8th. Benchmark Co. upped their price objective on shares of Tegna from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $26.00 price objective on shares of Tegna in a research note on Tuesday, February 28th. JPMorgan Chase & Co. lowered shares of Tegna from an “overweight” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Wednesday, November 23rd. They noted that the move was a valuation call. Finally, Barrington Research reissued an “outperform” rating and issued a $36.00 price target (up from $28.00) on shares of Tegna in a research report on Tuesday, March 7th.
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In other news, SVP William A. Behan sold 24,644 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $25.87, for a total value of $637,540.28. Following the completion of the sale, the senior vice president now directly owns 8,005 shares of the company’s stock, valued at $207,089.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd A. Mayman sold 11,554 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $25.69, for a total transaction of $296,822.26. Following the completion of the sale, the executive vice president now directly owns 56,250 shares of the company’s stock, valued at $1,445,062.50. The disclosure for this sale can be found here. Insiders sold 44,421 shares of company stock valued at $1,148,472 over the last three months. 0.68% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Tegna during the fourth quarter valued at $49,159,000. Victory Capital Management Inc. raised its position in shares of Tegna by 47.9% in the third quarter. Victory Capital Management Inc. now owns 5,939,808 shares of the company’s stock valued at $129,844,000 after buying an additional 1,923,809 shares during the last quarter. Morgan Stanley raised its position in shares of Tegna by 229.7% in the third quarter. Morgan Stanley now owns 1,184,296 shares of the company’s stock valued at $25,888,000 after buying an additional 825,044 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Tegna by 67.6% in the third quarter. Prudential Financial Inc. now owns 2,010,158 shares of the company’s stock valued at $43,942,000 after buying an additional 810,508 shares during the last quarter. Finally, FMR LLC raised its position in shares of Tegna by 75.0% in the fourth quarter. FMR LLC now owns 1,700,168 shares of the company’s stock valued at $36,366,000 after buying an additional 728,426 shares during the last quarter. 85.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tegna (NYSE:TGNA) opened at 25.87 on Thursday. The stock has a market capitalization of $5.55 billion, a P/E ratio of 13.03 and a beta of 1.69. Tegna has a 1-year low of $17.91 and a 1-year high of $26.65. The firm’s 50-day moving average is $24.72 and its 200 day moving average is $22.17.
Tegna (NYSE:TGNA) last posted its quarterly earnings data on Monday, February 27th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. Tegna had a net margin of 14.33% and a return on equity of 19.14%. The company earned $887.42 million during the quarter, compared to analyst estimates of $887.46 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Tegna will post $1.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 10th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Wednesday, March 8th. Tegna’s dividend payout ratio (DPR) is 26.67%.
TEGNA Inc, formerly Gannett Co, Inc, includes a portfolio of media and digital businesses that provide content. The Company operates through two segments: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). As of December 31, 2015, the Company’s media business included 46 television stations operating in 38 markets, offering television programing and digital content.
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