TEGNA (NYSE:TGNA) Hits New 52-Week High - Still a Buy?

Key Points

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TEGNA Inc. (NYSE:TGNA - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $21.15 and last traded at $21.10, with a volume of 11036988 shares traded. The stock had previously closed at $20.18.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TGNA shares. Guggenheim reduced their price target on shares of TEGNA from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Wells Fargo & Company restated an "overweight" rating and issued a $22.00 price target (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. JPMorgan Chase & Co. cut their price target on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Finally, Benchmark lowered their price objective on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.25.

TEGNA Stock Up 4.1%

The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 7.56 and a beta of 0.28. The business's 50 day moving average price is $17.19 and its 200 day moving average price is $17.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47.

TEGNA (NYSE:TGNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.44 EPS for the quarter, topping 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 analysts' expectations of $673.92 million. During the same quarter last year, the company earned $0.50 EPS. The business's revenue was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.

Institutional Investors Weigh In On TEGNA

A number of institutional investors have recently added to or reduced their stakes in TGNA. LSV Asset Management boosted its stake in TEGNA by 0.4% during the 1st quarter. LSV Asset Management now owns 7,828,750 shares of the company's stock worth $142,640,000 after purchasing an additional 32,121 shares during the last quarter. Geode Capital Management LLC raised its holdings in TEGNA by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,008,137 shares of the company's stock valued at $83,944,000 after buying an additional 82,140 shares during the period. Wasatch Advisors LP raised its holdings in TEGNA by 5,517.6% in the 2nd quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company's stock valued at $54,340,000 after buying an additional 3,184,505 shares during the period. Northern Trust Corp grew its position in TEGNA by 8.3% in the 4th quarter. Northern Trust Corp now owns 2,865,335 shares of the company's stock valued at $52,407,000 after acquiring an additional 219,706 shares in the last quarter. Finally, Millennium Management LLC grew its position in TEGNA by 51.5% in the 1st 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 in 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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