Tegna (TGNA) Given New $16.00 Price Target at B. Riley

Tegna (NYSE:TGNA) had its price target reduced by research analysts at B. Riley from $17.00 to $16.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 29.76% from the stock’s current price.

Several other equities research analysts also recently commented on TGNA. Zacks Investment Research downgraded Tegna from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Barclays reiterated an “underweight” rating on shares of Tegna in a report on Monday, March 5th. Noble Financial reiterated a “buy” rating on shares of Tegna in a report on Friday, March 2nd. ValuEngine downgraded Tegna from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Tegna in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.67.

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Tegna (NYSE TGNA) opened at $12.33 on Tuesday. The company has a market capitalization of $2,707.98, a PE ratio of 5.79, a PEG ratio of 5.95 and a beta of 1.55. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.02. Tegna has a twelve month low of $11.59 and a twelve month high of $16.83.

Tegna (NYSE:TGNA) last released its quarterly earnings data on Thursday, March 1st. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $480.45 million for the quarter, compared to the consensus estimate of $491.79 million. Tegna had a return on equity of 19.56% and a net margin of 20.74%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. equities research analysts anticipate that Tegna will post 1.71 earnings per share for the current year.

In other Tegna news, Director Neal Shapiro sold 12,385 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $12.57, for a total transaction of $155,679.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Lynn B. Trelstad sold 3,112 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total value of $39,989.20. Following the sale, the chief operating officer now owns 24,152 shares of the company’s stock, valued at approximately $310,353.20. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Tegna by 1.4% in the 4th quarter. BlackRock Inc. now owns 17,786,042 shares of the company’s stock worth $250,427,000 after acquiring an additional 242,376 shares in the last quarter. Fairpointe Capital LLC grew its position in shares of Tegna by 10.9% in the 4th quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock worth $160,143,000 after acquiring an additional 1,119,057 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Tegna by 104.7% in the 4th quarter. Schroder Investment Management Group now owns 7,802,625 shares of the company’s stock worth $109,861,000 after acquiring an additional 3,991,060 shares in the last quarter. Ariel Investments LLC grew its position in shares of Tegna by 22.9% in the 4th quarter. Ariel Investments LLC now owns 7,500,773 shares of the company’s stock worth $105,611,000 after acquiring an additional 1,395,820 shares in the last quarter. Finally, Evercore Trust Company N.A. acquired a new position in shares of Tegna in the 3rd quarter worth approximately $56,674,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.

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About Tegna

Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.

Analyst Recommendations for Tegna (NYSE:TGNA)

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