Wolfe Research started coverage on shares of TEGNA (NYSE:TGNA) in a report released on Friday, The Fly reports. The firm issued a market perform rating on the stock.

Several other equities research analysts have also weighed in on TGNA. Barrington Research reiterated a buy rating and set a $15.00 price objective on shares of TEGNA in a research note on Thursday, August 16th. ValuEngine upgraded shares of TEGNA from a strong sell rating to a sell rating in a research note on Wednesday, August 22nd. Noble Financial set a $15.00 price objective on shares of TEGNA and gave the stock a buy rating in a research note on Wednesday, August 22nd. Zacks Investment Research lowered shares of TEGNA from a hold rating to a strong sell rating in a research note on Tuesday, September 4th. Finally, Gabelli initiated coverage on shares of TEGNA in a research note on Tuesday, November 27th. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $14.67.

TGNA traded down $0.30 on Friday, hitting $12.69. 1,593,470 shares of the company’s stock were exchanged, compared to its average volume of 2,186,732. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.37 and a beta of 1.55. TEGNA has a twelve month low of $10.00 and a twelve month high of $15.60. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.48.

TEGNA (NYSE:TGNA) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $539.00 million for the quarter, compared to analyst estimates of $537.68 million. TEGNA had a net margin of 26.46% and a return on equity of 28.02%. TEGNA’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Research analysts anticipate that TEGNA will post 1.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 7th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.28 annualized dividend and a dividend yield of 2.21%. TEGNA’s payout ratio is currently 25.93%.

Several large investors have recently made changes to their positions in TGNA. Trexquant Investment LP acquired a new stake in shares of TEGNA in the second quarter valued at approximately $115,000. Todd Asset Management LLC acquired a new stake in shares of TEGNA in the second quarter valued at approximately $115,000. People s United Financial Inc. acquired a new stake in shares of TEGNA in the third quarter valued at approximately $124,000. Mengis Capital Management Inc. acquired a new stake in shares of TEGNA in the third quarter valued at approximately $138,000. Finally, Cadence Capital Management LLC acquired a new stake in shares of TEGNA in the second quarter valued at approximately $140,000. Institutional investors own 94.22% of the company’s stock.

TEGNA Company Profile

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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