TEGNA Inc. (NYSE:TGNA) Given Consensus Rating of “Hold” by Analysts

Shares of TEGNA Inc. (NYSE:TGNA) have earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $19.75.

A number of brokerages have recently commented on TGNA. Wells Fargo & Company lowered TEGNA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th. Finally, Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th.

TEGNA Price Performance

Shares of TEGNA stock opened at $18.96 on Thursday. TEGNA has a 52 week low of $14.87 and a 52 week high of $21.35. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81. The stock has a market cap of $3.05 billion, a PE ratio of 8.93 and a beta of 0.15. The company’s 50-day moving average price is $19.24 and its two-hundred day moving average price is $19.57.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). TEGNA had a return on equity of 12.50% and a net margin of 11.97%.The business had revenue of $650.79 million during the quarter, compared to analyst estimates of $658.28 million. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was down 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Friday, December 5th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, December 5th. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Hedge Funds Weigh In On TEGNA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi raised its stake in TEGNA by 1,507.5% during the 1st quarter. Amundi now owns 4,067 shares of the company’s stock valued at $74,000 after purchasing an additional 3,814 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TEGNA by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,968 shares of the company’s stock valued at $1,749,000 after buying an additional 1,726 shares in the last quarter. United Services Automobile Association acquired a new position in TEGNA during the first quarter valued at $183,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in TEGNA by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,881 shares of the company’s stock worth $9,837,000 after acquiring an additional 21,303 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in TEGNA by 193.0% during the 1st quarter. Jane Street Group LLC now owns 573,255 shares of the company’s stock worth $10,445,000 after acquiring an additional 377,578 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.