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

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) shares reached a new 52-week high on Monday . The company 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.

Analyst Upgrades and Downgrades

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

TEGNA Trading Up 1.0%

The company has a market cap of $3.43 billion, a PE ratio of 7.65 and a beta of 0.28. The business has a 50 day simple moving average of $17.54 and a two-hundred day simple moving average of $17.29. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82.

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

Institutional Trading of TEGNA

A number of institutional investors and hedge funds have recently made changes to their positions in TGNA. Raymond James Financial Inc. acquired a new stake in shares of TEGNA during the 4th quarter worth $2,375,000. Mariner LLC increased its holdings in TEGNA by 49.8% in the 4th quarter. Mariner LLC now owns 32,372 shares of the company's stock valued at $592,000 after purchasing an additional 10,766 shares in the last quarter. MetLife Investment Management LLC increased its holdings in TEGNA by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 99,017 shares of the company's stock valued at $1,811,000 after purchasing an additional 2,562 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after purchasing an additional 749 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in TEGNA in the 4th quarter worth approximately $1,250,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

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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