TEGNA Inc. (TGNA) Rating Lowered to Sell at BidaskClub
BidaskClub downgraded shares of TEGNA Inc. (NYSE:TGNA) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
Other equities analysts also recently issued research reports about the company. ValuEngine upgraded TEGNA from a hold rating to a buy rating in a report on Thursday, July 27th. Noble Financial reiterated a buy rating on shares of TEGNA in a report on Thursday, August 3rd. Jefferies Group LLC reiterated a hold rating and issued a $14.00 target price (down previously from $16.00) on shares of TEGNA in a report on Wednesday, August 2nd. TheStreet downgraded TEGNA from a b rating to a c+ rating in a report on Thursday, July 13th. Finally, Barclays PLC reiterated an underweight rating and issued a $13.00 target price (down previously from $20.00) on shares of TEGNA in a report on Monday, June 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $19.79.
Shares of TEGNA (TGNA) opened at 12.26 on Tuesday. TEGNA has a 12-month low of $11.46 and a 12-month high of $17.06. The stock has a market capitalization of $2.64 billion, a P/E ratio of 14.99 and a beta of 1.76. The company has a 50-day moving average of $12.94 and a 200-day moving average of $14.87.
TEGNA (NYSE:TGNA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $489.36 million during the quarter, compared to analyst estimates of $486.29 million. TEGNA had a net margin of 11.90% and a return on equity of 20.51%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities analysts expect that TEGNA will post $1.09 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.28%. TEGNA’s dividend payout ratio is 16.97%.
A number of large investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. increased its holdings in TEGNA by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 15,799 shares of the company’s stock worth $405,000 after buying an additional 67 shares during the last quarter. HPM Partners LLC increased its holdings in TEGNA by 0.6% in the second quarter. HPM Partners LLC now owns 12,764 shares of the company’s stock worth $184,000 after buying an additional 77 shares during the last quarter. Advantus Capital Management Inc increased its holdings in TEGNA by 0.4% in the first quarter. Advantus Capital Management Inc now owns 21,442 shares of the company’s stock worth $549,000 after buying an additional 95 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in TEGNA by 0.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 28,193 shares of the company’s stock worth $722,000 after buying an additional 153 shares during the last quarter. Finally, Mason Street Advisors LLC increased its holdings in TEGNA by 1.2% in the first quarter. Mason Street Advisors LLC now owns 29,672 shares of the company’s stock worth $760,000 after buying an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 97.96% 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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