TEGNA (NYSE:TGNA) Lowered 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 downgraded shares of TEGNA (NYSE:TGNA - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday, August 21st,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Finally, Benchmark decreased their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, TEGNA presently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Stock Performance

NYSE:TGNA traded up $0.04 during midday trading on Thursday, reaching $21.14. The stock had a trading volume of 1,329,814 shares, compared to its average volume of 1,994,767. TEGNA has a 1-year low of $13.44 and a 1-year high of $21.35. The firm's fifty day simple moving average is $17.81 and its 200-day simple moving average is $17.36. 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 stock has a market capitalization of $3.40 billion, a P/E ratio of 7.60 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.06. TEGNA had a net margin of 14.99% and a return on equity of 16.20%. The business had revenue of $675.05 million for the quarter, compared to analyst estimates of $673.92 million. During the same period last year, the business posted $0.50 EPS. TEGNA's revenue was down 5.0% compared to the same quarter last year. TEGNA has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 5th. TEGNA's dividend payout ratio (DPR) is presently 17.99%.

Institutional Trading of TEGNA

Several hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management purchased a new position in TEGNA during the 4th quarter worth $28,000. Tower Research Capital LLC TRC increased its position 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 buying an additional 749 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of TEGNA in the second quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd increased its position in shares of TEGNA by 1,018.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,997 shares of the company's stock worth $50,000 after purchasing an additional 2,729 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in TEGNA by 53.3% during the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after acquiring an additional 1,088 shares during the last quarter. Institutional investors own 92.19% 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.