Tegna (NYSE:TGNA) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Friday, December 1st.
Several other equities research analysts also recently weighed in on the stock. Guggenheim started coverage on shares of Tegna in a research note on Wednesday, October 18th. They issued a “buy” rating and a $17.00 target price on the stock. Zacks Investment Research raised shares of Tegna from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 13th. BidaskClub downgraded shares of Tegna from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $14.00 price target on shares of Tegna in a research note on Friday, September 22nd. Finally, Noble Financial reaffirmed a “buy” rating on shares of Tegna in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.88.
Shares of Tegna (NYSE TGNA) traded up $0.05 during trading hours on Friday, hitting $13.44. 2,528,800 shares of the company were exchanged, compared to its average volume of 3,509,633. Tegna has a 12-month low of $11.59 and a 12-month high of $17.08. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 4.30. The company has a market capitalization of $2,881.61, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 10.18 and a beta of 1.72.
Tegna (NYSE:TGNA) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Tegna had a net margin of 11.10% and a return on equity of 20.50%. The business had revenue of $464.26 million during the quarter, compared to analyst estimates of $463.23 million. During the same quarter last year, the business earned $0.65 earnings per share. Tegna’s quarterly revenue was down 10.7% compared to the same quarter last year. equities research analysts anticipate that Tegna will post 1.07 EPS for the current year.
Tegna announced that its board has approved a share repurchase program on Tuesday, September 19th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Tegna news, 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 transaction of $465,162.90. Following the completion of the transaction, the executive vice president now directly owns 19,420 shares of the company’s stock, valued at approximately $245,274.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $105,960.60. Following the transaction, the senior vice president now directly owns 32,335 shares of the company’s stock, valued at $442,666.15. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of TGNA. Bank of Montreal Can increased its holdings in shares of Tegna by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 204,617 shares of the company’s stock valued at $2,949,000 after purchasing an additional 2,852 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of Tegna by 31.0% during the 2nd quarter. LS Investment Advisors LLC now owns 16,929 shares of the company’s stock valued at $244,000 after purchasing an additional 4,011 shares in the last quarter. Aperio Group LLC increased its holdings in Tegna by 37.4% in the 2nd quarter. Aperio Group LLC now owns 91,790 shares of the company’s stock worth $1,323,000 after acquiring an additional 25,003 shares in the last quarter. State Treasurer State of Michigan increased its holdings in Tegna by 25.5% in the 2nd quarter. State Treasurer State of Michigan now owns 88,500 shares of the company’s stock worth $1,275,000 after acquiring an additional 17,988 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Tegna by 81.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 451,780 shares of the company’s stock worth $6,512,000 after acquiring an additional 202,799 shares in the last quarter. 99.89% of the stock is owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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