ValuEngine upgraded shares of TEGNA Inc. (NYSE:TGNA) from a hold rating to a buy rating in a report released on Thursday.

TGNA has been the topic of a number of other research reports. TheStreet raised shares of TEGNA from a c rating to a b rating in a research report on Thursday, March 30th. Benchmark Co. reaffirmed a buy rating and set a $20.00 target price on shares of TEGNA in a research report on Friday, June 16th. FBR & Co lowered their price target on shares of TEGNA from $30.00 to $29.00 and set an outperform rating on the stock in a report on Monday, May 15th. Zacks Investment Research lowered shares of TEGNA from a hold rating to a strong sell rating in a report on Monday, June 5th. Finally, Noble Financial reissued a buy rating on shares of TEGNA in a report on Thursday, July 13th. 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 stock. The stock has a consensus rating of Hold and a consensus price target of $21.69.

TEGNA (TGNA) opened at 15.35 on Thursday. The firm’s 50-day moving average is $14.68 and its 200 day moving average is $21.53. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 8.20 and a beta of 1.74. TEGNA has a one year low of $14.02 and a one year high of $26.65.

TEGNA (NYSE:TGNA) last announced its earnings results on Tuesday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. TEGNA had a net margin of 12.25% and a return on equity of 19.16%. The business had revenue of $778.50 million for the quarter, compared to analyst estimates of $799.54 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. TEGNA’s revenue was down .4% compared to the same quarter last year. Analysts forecast that TEGNA will post $1.22 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, September 7th. TEGNA’s dividend payout ratio (DPR) is presently 14.97%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in TEGNA by 3,145.3% in the first quarter. BlackRock Inc. now owns 13,306,717 shares of the company’s stock valued at $340,917,000 after buying an additional 12,896,690 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in TEGNA by 31.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock valued at $160,243,000 after buying an additional 2,676,789 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in TEGNA during the second quarter valued at $24,986,000. Renaissance Technologies LLC raised its stake in TEGNA by 1,523.6% in the first quarter. Renaissance Technologies LLC now owns 1,813,600 shares of the company’s stock valued at $46,464,000 after buying an additional 1,701,900 shares during the last quarter. Finally, Contrarius Investment Management Ltd purchased a new stake in TEGNA during the first quarter valued at $39,690,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.

About TEGNA

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for TEGNA (NYSE:TGNA)

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