TEGNA (NYSE:TGNA) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• TEGNA's stock received a "Buy (B-)" rating from Weiss Ratings, along with an average rating of "Moderate Buy" and a price target of $19.75 from several brokerages.
• The company reported a quarterly earnings per share (EPS) of $0.44, surpassing estimates, although revenue was down 5.0% year-over-year at $675.05 million.
• Institutional investors hold a significant stake in TEGNA, owning 92.19% of its stock, with several hedge funds recently boosting their holdings dramatically.

TEGNA (NYSE:TGNA - Get Free Report)'s stock had its "buy (b-)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on TGNA. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Guggenheim restated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Three 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 stock has an average rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Stock Performance

TGNA traded up $0.05 on Wednesday, hitting $20.33. 879,141 shares of the company traded hands, compared to its average volume of 2,127,359. The company has a 50 day moving average of $20.05 and a 200-day moving average of $17.94. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.27 billion, a PE ratio of 7.31 and a beta of 0.25. TEGNA has a 12-month low of $14.87 and a 12-month high of $21.35.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGNA. Wasatch Advisors LP boosted its holdings in TEGNA by 5,517.6% in the second quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company's stock valued at $54,340,000 after acquiring an additional 3,184,505 shares during the last quarter. Millennium Management LLC boosted its holdings in TEGNA by 51.5% in the first quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock valued at $46,442,000 after acquiring an additional 866,970 shares during the last quarter. Nuveen LLC acquired a new position in TEGNA in the first quarter valued at $15,492,000. Norges Bank acquired a new position in TEGNA in the second quarter valued at $13,426,000. Finally, Qube Research & Technologies Ltd boosted its holdings in TEGNA by 1,790.0% in the second quarter. Qube Research & Technologies Ltd now owns 789,521 shares of the company's stock valued at $13,232,000 after acquiring an additional 747,747 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

About TEGNA

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.

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