TEGNA (NYSE: TGNA) recently received a number of ratings updates from brokerages and research firms:

  • 8/16/2018 – TEGNA had its “buy” rating reaffirmed by analysts at Barrington Research. They now have a $15.00 price target on the stock. They wrote, “We are lowering our 2018-based price target by $3 to $15 for TGNA assigning a 9x two-year-forward EV/EBITDA multiple reflecting the industry-leading positions in its broadcasting and related digital businesses. TEGNA is committed to returning capital to shareholders via a $0.28 annual dividend (yielding 2.6%) and share repurchases. TEGNA is focused on using its industry-leading position in broadcasting to establish and grow related programming and digital initiatives.””
  • 8/8/2018 – TEGNA was given a new $15.00 price target on by analysts at Noble Financial. They now have a “buy” rating on the stock.
  • 8/8/2018 – TEGNA had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock. They wrote, “We think forward guidance now looks conservative enough to potentially exceed, especially with political coming in as strong as we’ve seen across the industry, while our new 2019 forecast still only has 1% core growth embedded despite increasingly easy comparisons vs. large displacement. Total revenue of $524 million came in nearly $8 million ahead of the street as a modest miss in core was more than offset by almost $26 million in political and a nearly $4 million q/q increase in Subscription revenue. On AM&S, we note that we estimate underlying core was down ~6%, roughly in line with the peer group when taking into account incremental crowd-out, while the segment was also negatively impacted by further attrition in the remaining digital marketing services component.””
  • 8/7/2018 – TEGNA had its “hold” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $12.00 price target on the stock.
  • 7/31/2018 – TEGNA is now covered by analysts at Evercore ISI. They set an “in-line” rating and a $14.00 price target on the stock.
  • 7/24/2018 – TEGNA was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Tegna is benefiting from accelerating subscriptions revenues. Further, the company’s strong presence in gubernatorial and U.S. Senate races will boost political revenues in 2018. The company’s focus on producing local and live-event content is expanding presence in the OTT market. TEGNA’s OTT local advertising network, Premion, continues to gain traction. The acquisition of the broadcasting stations of Midwest Television expands TEGNA’s U.S. television household reach by more than one million. Moreover, the acquisition is accretive to earnings within the first 12 months of closing. Estimates have remained stable ahead of the Q2 earnings release. However, TEGNA operates in a competitive broadcast TV industry, which has long been grappling with declining advertising revenues. Cord-cutting is also a significant threat. Shares have underperformed the industry on a year-to-date basis.”
  • 7/17/2018 – TEGNA was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 7/11/2018 – TEGNA was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 7/9/2018 – TEGNA was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $13.00 price target on the stock. According to Zacks, “Tegna is benefiting from accelerating subscriptions revenues. Further, the company’s strong presence in gubernatorial and U.S. Senate races will boost political revenues in 2018. The company’s focus on producing local and live-event content is expanding presence in the OTT market. TEGNA’s OTT local advertising network, Premion, continues to gain traction. The acquisition of the broadcasting stations of Midwest Television expands TEGNA’s U.S. television household reach by more than one million. Moreover, the acquisition is accretive to earnings within the first 12 months of closing. However, TEGNA operates in a competitive broadcast TV industry, which has long been grappling with declining advertising revenues. Cord-cutting is also a significant threat. Shares have underperformed the industry on a year-to-date basis.”
  • 6/29/2018 – TEGNA was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.

NYSE:TGNA opened at $10.91 on Tuesday. The company has a market cap of $2.31 billion, a PE ratio of 10.10, a P/E/G ratio of 0.45 and a beta of 1.66. TEGNA Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $15.60. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.80.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $524.08 million during the quarter, compared to analyst estimates of $516.52 million. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. sell-side analysts anticipate that TEGNA Inc. will post 1.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Thursday, September 6th. TEGNA’s dividend payout ratio (DPR) is presently 25.93%.

Large investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in shares of TEGNA during the second quarter valued at approximately $112,000. Todd Asset Management LLC purchased a new stake in shares of TEGNA during the second quarter valued at approximately $115,000. Trexquant Investment LP purchased a new stake in shares of TEGNA during the second quarter valued at approximately $115,000. Quantbot Technologies LP purchased a new stake in shares of TEGNA during the first quarter valued at approximately $137,000. Finally, Cadence Capital Management LLC purchased a new stake in shares of TEGNA during the second quarter valued at approximately $140,000. 94.66% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: How Important is Technical Analysis of Stocks

Receive News & Ratings for TEGNA Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA Inc and related companies with MarketBeat.com's FREE daily email newsletter.