Noble Financial Reaffirms “Buy” Rating for Tegna (TGNA)
A number of other research analysts have also commented on TGNA. BidaskClub lowered Tegna from a sell rating to a strong sell rating in a research note on Tuesday, November 7th. ValuEngine upgraded Tegna from a buy rating to a strong-buy rating in a research note on Friday, December 1st. Wells Fargo & Co upgraded Tegna from a market perform rating to an outperform rating and set a $19.00 target price for the company in a research note on Thursday, January 4th. Zacks Investment Research lowered Tegna from a hold rating to a sell rating in a research note on Wednesday, January 10th. Finally, Benchmark restated a buy rating and issued a $19.00 target price on shares of Tegna in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $18.11.
Shares of Tegna (NYSE TGNA) traded up $0.52 during mid-day trading on Friday, hitting $13.48. The stock had a trading volume of 2,243,007 shares, compared to its average volume of 2,313,549. Tegna has a one year low of $11.59 and a one year high of $16.98. The firm has a market capitalization of $2,794.22, a price-to-earnings ratio of 6.33, a PEG ratio of 6.39 and a beta of 1.55. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, March 8th. Tegna’s dividend payout ratio (DPR) is 13.15%.
In other Tegna news, SVP Clifton A. Mcclelland III sold 7,740 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total value of $105,960.60. Following the sale, the senior vice president now directly owns 32,335 shares in the company, valued at $442,666.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new stake in Tegna in the fourth quarter valued at $297,000. Fairpointe Capital LLC grew its position in Tegna by 10.9% in the fourth quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after acquiring an additional 1,119,057 shares during the period. MetLife Investment Advisors LLC bought a new stake in Tegna in the fourth quarter valued at $1,916,000. Element Capital Management LLC bought a new stake in Tegna in the fourth quarter valued at $9,331,000. Finally, Vident Investment Advisory LLC grew its position in Tegna by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 179,016 shares of the company’s stock valued at $2,521,000 after acquiring an additional 10,934 shares during the period. Hedge funds and other institutional investors own 99.91% of the company’s stock.
Tegna Company Profile
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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