TEGNA (NYSE:TGNA) Hits New 1-Year High - Here's Why

Key Points

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TEGNA Inc. (NYSE:TGNA - Get Free Report)'s share price reached 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.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TGNA shares. Wells Fargo & Company restated an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Benchmark dropped their target price on shares of TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Guggenheim reiterated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Trading Up 0.0%

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 $3.39 billion, a PE ratio of 7.58 and a beta of 0.28. The stock's 50 day simple moving average is $17.54 and its two-hundred day simple moving average is $17.29.

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

Institutional Trading of TEGNA

A number of institutional investors have recently modified their holdings of TGNA. Wasatch Advisors LP lifted its stake in shares of TEGNA by 5,517.6% during 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 in the last quarter. Millennium Management LLC lifted its stake in shares of TEGNA by 51.5% during the 1st quarter. Millennium Management LLC now owns 2,548,981 shares of the company's stock valued at $46,442,000 after buying an additional 866,970 shares in the last quarter. Nuveen LLC purchased a new stake in shares of TEGNA during the 1st quarter valued at approximately $15,492,000. Norges Bank purchased a new stake in shares of TEGNA during the 2nd quarter valued at approximately $13,426,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of TEGNA by 1,790.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 789,521 shares of the company's stock valued at $13,232,000 after buying an additional 747,747 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

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.