FBR & Co Lowers TEGNA Inc. (TGNA) Price Target to $16.00
TEGNA Inc. (NYSE:TGNA) had its target price reduced by FBR & Co from $24.00 to $16.00 in a research report report published on Friday, Marketbeat.com reports. FBR & Co currently has a mkt perform rating on the stock.
Several other equities analysts have also commented on the stock. ValuEngine raised shares of TEGNA from a hold rating to a buy rating in a research report on Thursday, July 27th. TheStreet lowered shares of TEGNA from a b rating to a c+ rating in a research report on Thursday, July 13th. Noble Financial reissued a buy rating on shares of TEGNA in a research report on Thursday, July 13th. Benchmark Co. reissued a buy rating and issued a $20.00 price objective on shares of TEGNA in a research report on Friday, June 16th. Finally, Barclays PLC reissued an underweight rating and issued a $13.00 price objective (down previously from $20.00) on shares of TEGNA in a research report on Monday, June 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $21.69.
TEGNA (NYSE TGNA) opened at 14.62 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of 7.81 and a beta of 1.74. The firm has a 50-day moving average of $14.69 and a 200 day moving average of $21.48. TEGNA has a 12 month low of $14.03 and a 12 month high of $26.65.
TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. TEGNA had a net margin of 12.25% and a return on equity of 19.16%. The firm had revenue of $778.50 million during the quarter, compared to analyst estimates of $799.54 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. TEGNA’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts anticipate that TEGNA will post $1.22 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.89%. TEGNA’s dividend payout ratio (DPR) is presently 14.97%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. increased its position in shares of TEGNA by 2.0% in the first quarter. Sei Investments Co. now owns 175,358 shares of the company’s stock valued at $4,493,000 after buying an additional 3,382 shares during the period. Clark Capital Management Group Inc. purchased a new position in shares of TEGNA during the first quarter valued at $14,889,000. BNP Paribas Arbitrage SA increased its position in shares of TEGNA by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 179,586 shares of the company’s stock valued at $4,601,000 after buying an additional 18,019 shares during the period. DnB Asset Management AS increased its position in shares of TEGNA by 27.5% in the first quarter. DnB Asset Management AS now owns 15,779 shares of the company’s stock valued at $404,000 after buying an additional 3,400 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of TEGNA by 9.3% in the first quarter. Schroder Investment Management Group now owns 2,076,776 shares of the company’s stock valued at $53,705,000 after buying an additional 176,474 shares during the period. Institutional investors and hedge funds own 86.66% of the company’s stock.
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.
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