TEGNA (NYSE:TGNA) Hits New 12-Month High - Still a Buy?

Key Points

• TEGNA Inc. shares reached a new 52-week high of $21.24, up from a previous close of $21.08, with a trading volume of over 1.36 million shares.
• Analysts have differing views on TEGNA, with Guggenheim maintaining a "neutral" rating and a target price of $19.00, while Wells Fargo upgraded their target to $22.00 with an "overweight" rating.
• The company's latest earnings report showed $0.44 EPS exceeding expectations of $0.38, though revenue declined by 5% year-over-year to $675.05 million.

TEGNA Inc. (NYSE:TGNA - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $21.22 and last traded at $21.24, with a volume of 1365491 shares traded. The stock had previously closed at $21.08.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGNA. Benchmark dropped their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Guggenheim reissued a "neutral" rating and set a $19.00 target price on shares of TEGNA in a research note on Friday, August 22nd. Wells Fargo & Company reissued an "overweight" rating and set a $22.00 target price (up previously from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. Finally, JPMorgan Chase & Co. decreased their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Trading Up 0.1%

The stock has a market cap of $3.41 billion, a P/E ratio of 7.62 and a beta of 0.28. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $18.00 and a two-hundred day moving average price of $17.40.

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 the consensus estimate of $0.38 by $0.06. The firm had revenue of $675.05 million for 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 company's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. TEGNA has set its Q3 2025 guidance at EPS. On average, research analysts expect that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. TEGNA's dividend payout ratio is 17.99%.

Institutional Investors Weigh In On TEGNA

Hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new stake in TEGNA in the fourth quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its position in TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after buying an additional 749 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in TEGNA during the second quarter worth $38,000. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $50,000 after buying an additional 2,729 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in TEGNA by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $57,000 after purchasing an additional 1,088 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

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.