TEGNA (NYSE:TGNA) Sees Strong Trading Volume - What's Next?

Key Points

• TEGNA Inc. saw a 33% increase in trading volume, with approximately 2.75 million shares traded, while its stock price currently sits at $20.46, down from a previous close of $20.77.
• Analysts have mixed reviews on TEGNA, with Guggenheim maintaining a "neutral" rating and a $19.00 target, while Wells Fargo raised its target to $22.00, contributing to a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.125 per share, reflecting an annualized dividend yield of 2.4%, with a payout ratio of 17.99%.

Shares of TEGNA Inc. (NYSE:TGNA - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 2,753,683 shares were traded during mid-day trading, an increase of 33% from the previous session's volume of 2,065,844 shares.The stock last traded at $20.46 and had previously closed at $20.77.

Analyst Upgrades and Downgrades

Several analysts have commented on TGNA shares. Guggenheim reissued a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a research report on Friday, August 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of TEGNA in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, TEGNA presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TEGNA Stock Down 1.6%

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 company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 7.35 and a beta of 0.28. The stock's fifty day moving average price is $19.44 and its 200-day moving average price is $17.80.

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

TEGNA Dividend Announcement

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

Institutional Investors Weigh In On TEGNA

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in TEGNA during the second quarter worth about $38,000. Caitong International Asset Management Co. Ltd increased 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 during the period. GAMMA Investing LLC increased its stake in shares of TEGNA by 53.3% in the first quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $57,000 after buying an additional 1,088 shares during the period. TD Private Client Wealth LLC increased its stake in shares of TEGNA by 13,896.4% in the second quarter. TD Private Client Wealth LLC now owns 3,919 shares of the company's stock valued at $66,000 after buying an additional 3,891 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of TEGNA by 81.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,963 shares of the company's stock valued at $66,000 after buying an additional 1,781 shares during the period. Institutional investors 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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