Tegna Inc (TGNA) Receives Average Recommendation of “Hold” from Analysts
Tegna Inc (NYSE:TGNA) has been given a consensus rating of “Hold” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.88.
TGNA has been the topic of a number of recent research reports. Noble Financial restated a “buy” rating on shares of Tegna in a research note on Wednesday, October 11th. ValuEngine upgraded Tegna from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Guggenheim initiated coverage on Tegna in a research note on Wednesday, October 18th. They issued a “buy” rating and a $17.00 target price on the stock. Jefferies Group restated a “hold” rating and issued a $14.00 target price on shares of Tegna in a research note on Monday, October 16th. Finally, Wells Fargo & Company restated a “hold” rating and issued a $14.00 target price on shares of Tegna in a research note on Friday, September 22nd.
In other news, SVP Clifton A. Mcclelland III sold 7,740 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 32,335 shares in the company, valued at $442,666.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Todd A. Mayman sold 36,830 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the transaction, the executive vice president now owns 19,420 shares in the company, valued at approximately $245,274.60. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
Shares of Tegna (TGNA) traded down $0.07 during trading hours on Thursday, reaching $14.36. The company had a trading volume of 2,584,300 shares, compared to its average volume of 3,516,113. Tegna has a 12 month low of $11.59 and a 12 month high of $17.08. The firm has a market cap of $3,105.42, a price-to-earnings ratio of 9.08, a P/E/G ratio of 10.97 and a beta of 1.72. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 4.30.
Tegna (NYSE:TGNA) last issued its earnings results on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The firm had revenue of $464.26 million for the quarter, compared to the consensus estimate of $463.23 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue was down 10.7% compared to the same quarter last year. equities analysts predict that Tegna will post 1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.95%. Tegna’s dividend payout ratio is currently 20.90%.
Tegna declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 19th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 11.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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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