Shares of TEGNA Inc. (NYSE:TGNA) have received a consensus rating of “Hold” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.17.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of TEGNA from a “hold” rating to a “sell” rating and set a $16.00 price objective for the company. in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of TEGNA in a research report on Friday, May 10th. ValuEngine downgraded shares of TEGNA from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barrington Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of TEGNA in a research report on Tuesday, August 6th. Finally, Stephens downgraded shares of TEGNA from an “overweight” rating to an “equal” rating and lowered their price objective for the company from $19.00 to $17.00 in a research report on Tuesday, June 11th.

TGNA traded up $1.39 on Tuesday, reaching $15.00. 4,337,200 shares of the company’s stock were exchanged, compared to its average volume of 2,281,569. The company’s 50 day moving average is $15.08 and its 200-day moving average is $14.67. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.07 and a beta of 1.46. TEGNA has a twelve month low of $10.24 and a twelve month high of $16.57. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.94 and a current ratio of 1.94.

TEGNA (NYSE:TGNA) last posted its earnings results on Tuesday, August 6th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. TEGNA had a net margin of 18.24% and a return on equity of 28.43%. The firm had revenue of $536.90 million during the quarter, compared to the consensus estimate of $534.10 million. During the same quarter in the prior year, the company earned $0.36 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that TEGNA will post 1.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 5th. TEGNA’s payout ratio is currently 15.30%.

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new stake in shares of TEGNA during the fourth quarter worth about $401,000. Bank of America Corp DE lifted its position in shares of TEGNA by 45.9% during the fourth quarter. Bank of America Corp DE now owns 669,432 shares of the company’s stock worth $7,276,000 after purchasing an additional 210,651 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TEGNA by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 2,402,110 shares of the company’s stock worth $26,110,000 after purchasing an additional 237,537 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of TEGNA by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 57,800 shares of the company’s stock worth $815,000 after purchasing an additional 700 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of TEGNA by 0.6% during the first quarter. Retirement Systems of Alabama now owns 280,920 shares of the company’s stock worth $3,961,000 after purchasing an additional 1,768 shares in the last quarter. 96.76% of the stock is owned by institutional investors and hedge funds.

About TEGNA

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.

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Analyst Recommendations for TEGNA (NYSE:TGNA)

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