TEGNA Inc. (NYSE:TGNA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts give TEGNA a consensus "Hold" (five holds, one buy) with an average 12‑month target price of $19.75.
• TEGNA topped estimates for the quarter with EPS of $0.50 versus $0.45 expected and revenue of $706.1M versus $701.3M, but revenue was down 18.9% year‑over‑year and EPS declined sharply from $1.21 a year earlier.
• The company declared a quarterly dividend of $0.125 (annualized $0.50) implying a ~2.3% yield, with an ex‑dividend date of March 10 and payment on April 1.

Shares of TEGNA Inc. (NYSE:TGNA - Get Free Report) have been assigned a consensus rating of "Hold" from the six analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.75.

Several research analysts have commented on the stock. Zacks Research upgraded shares of TEGNA from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of TEGNA in a research note on Monday, December 29th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of TEGNA by 13.0% in the third quarter. EverSource Wealth Advisors LLC now owns 4,480 shares of the company's stock worth $91,000 after acquiring an additional 517 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of TEGNA by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 16,643 shares of the company's stock valued at $323,000 after purchasing an additional 541 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in TEGNA by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 36,830 shares of the company's stock worth $715,000 after purchasing an additional 630 shares in the last quarter. PNC Financial Services Group Inc. increased its position in TEGNA by 12.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,810 shares of the company's stock worth $118,000 after purchasing an additional 653 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in TEGNA by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 47,560 shares of the company's stock valued at $967,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

TEGNA Price Performance

TGNA stock opened at $21.90 on Friday. The company's 50-day moving average price is $20.29 and its two-hundred day moving average price is $20.02. The firm has a market cap of $3.55 billion, a P/E ratio of 16.22 and a beta of 0.12. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.80. TEGNA has a 12 month low of $14.87 and a 12 month high of $21.90.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.05. The company had revenue of $706.11 million during the quarter, compared to the consensus estimate of $701.29 million. TEGNA had a net margin of 8.11% and a return on equity of 8.60%. The firm's quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. On average, analysts anticipate that TEGNA will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.50 annualized dividend and a yield of 2.3%. TEGNA's dividend payout ratio (DPR) is 37.04%.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company's primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.

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