Tegna (NYSE:TGNA)‘s stock had its “buy” rating reaffirmed by analysts at Noble Financial in a report issued on Tuesday.

TGNA has been the topic of a number of other research reports. BidaskClub downgraded Tegna from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine upgraded Tegna from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Tegna from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Jefferies Group restated a “hold” rating and set a $14.00 price target on shares of Tegna in a research note on Monday, October 16th. Finally, Royal Bank of Canada started coverage on Tegna in a research note on Tuesday, September 26th. They set a “sector perform” rating and a $14.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.88.

Tegna (NYSE TGNA) opened at $14.36 on Tuesday. The stock has a market capitalization of $3,032.25, a P/E ratio of 8.86, a P/E/G ratio of 10.71 and a beta of 1.72. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.37 and a current ratio of 1.37. Tegna has a 12 month low of $11.59 and a 12 month high of $17.08.

Tegna (NYSE:TGNA) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $464.26 million for the quarter, compared to the consensus estimate of $463.23 million. Tegna had a return on equity of 20.50% and a net margin of 11.10%. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. analysts expect that Tegna will post 1.07 earnings per share for the current fiscal year.

Tegna declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 19th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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 completion of the sale, the senior vice president now directly owns 32,335 shares of the company’s stock, valued at approximately $442,666.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the executive vice president now directly owns 19,420 shares of the company’s stock, valued at $245,274.60. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TGNA. Victory Capital Management Inc. lifted its holdings in shares of Tegna by 90.5% in the 2nd quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock valued at $185,828,000 after buying an additional 6,127,293 shares during the period. Canyon Capital Advisors LLC acquired a new stake in shares of Tegna in the 2nd quarter valued at approximately $82,306,000. BlackRock Inc. lifted its holdings in shares of Tegna by 32.2% in the 2nd quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock valued at $253,518,000 after buying an additional 4,286,497 shares during the period. Evercore Trust Company N.A. acquired a new stake in shares of Tegna in the 3rd quarter valued at approximately $56,674,000. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Tegna by 126.6% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,849,357 shares of the company’s stock valued at $84,289,000 after buying an additional 3,268,362 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

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Tegna Company Profile

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.

Analyst Recommendations for Tegna (NYSE:TGNA)

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