TEGNA (NYSE:TGNA) Downgraded to Hold Rating by Guggenheim

Key Points

• TEGNA has been downgraded by Guggenheim from a "strong-buy" to a "hold" rating, reflecting a shift in analyst sentiment regarding the stock.
• Other analysts have adjusted their price objectives for TEGNA, with Benchmark lowering its target to $20.00 and JPMorgan reducing it to $18.00, while Wells Fargo maintained an "overweight" rating with a target of $22.00.
• TEGNA reported earnings of $0.44 per share, exceeding estimates, despite a 5% decline in revenue compared to the previous year.

Guggenheim lowered shares of TEGNA (NYSE:TGNA - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

TGNA has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company restated an "overweight" rating and set a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. Finally, Benchmark cut their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.75.

TEGNA Stock Up 1.0%

Shares of TEGNA stock traded up $0.22 during trading hours on Thursday, hitting $21.30. The company had a trading volume of 2,907,927 shares, compared to its average volume of 5,140,705. The company's 50-day moving average is $17.63 and its two-hundred day moving average is $17.31. TEGNA has a twelve month low of $13.44 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $3.43 billion, a P/E ratio of 7.66 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The firm had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same quarter in the prior year, the firm earned $0.50 EPS. TEGNA's revenue for the quarter was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. Analysts anticipate that TEGNA will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TEGNA

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of TEGNA during the 4th quarter worth about $2,375,000. Mariner LLC increased its stake in TEGNA by 49.8% during the fourth quarter. Mariner LLC now owns 32,372 shares of the company's stock valued at $592,000 after purchasing an additional 10,766 shares during the last quarter. MetLife Investment Management LLC increased its stake in TEGNA by 2.7% during the fourth quarter. MetLife Investment Management LLC now owns 99,017 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,562 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of TEGNA during the fourth quarter valued at $1,250,000. 92.19% of the stock is owned by institutional investors and hedge funds.

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.