TEGNA's (TGNA) "Neutral" Rating Reaffirmed at Guggenheim

Key Points

• TEGNA's stock maintains a "neutral" rating from Guggenheim with a price target of $19.00, indicating a potential downside of 9.76% from its previous close.
• Wells Fargo upgraded its rating on TEGNA to "overweight" with a new price target of $22.00, while other analysts have varying ratings between "buy" and "neutral".
• TEGNA reported an earnings per share (EPS) of $0.44, exceeding expectations and showing a revenue of $675.05 million for the quarter, despite a 5.0% decrease in revenue from the prior year.

TEGNA (NYSE:TGNA - Get Free Report)'s stock had its "neutral" rating reaffirmed by Guggenheim in a report issued on Friday,Benzinga reports. They presently have a $19.00 price objective on the stock. Guggenheim's price target points to a potential downside of 9.76% from the stock's previous close.

Several other equities research analysts also recently weighed in on TGNA. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 target price (up from $21.00) on shares of TEGNA in a research note on Sunday, August 10th. 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 report on Wednesday, May 21st. Finally, Benchmark decreased their price objective on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

TEGNA Stock Up 0.3%

TEGNA stock opened at $21.0550 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of 7.57 and a beta of 0.28. TEGNA has a 12 month low of $13.44 and a 12 month high of $21.19. The business has a 50 day simple moving average of $17.44 and a 200-day simple moving average of $17.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 1.47.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (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 during the quarter, compared to analyst estimates of $673.92 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company'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 anticipate that TEGNA will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On TEGNA

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming raised its holdings in TEGNA by 73.7% in the second quarter. State of Wyoming now owns 23,001 shares of the company's stock valued at $385,000 after acquiring an additional 9,759 shares in the last quarter. Public Sector Pension Investment Board grew its position in TEGNA by 7.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 640,099 shares of the company's stock valued at $10,728,000 after buying an additional 43,231 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in TEGNA by 83.2% during the second quarter. Tower Research Capital LLC TRC now owns 16,279 shares of the company's stock worth $273,000 after purchasing an additional 7,393 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of TEGNA by 110.6% in the second quarter. Corient Private Wealth LLC now owns 130,026 shares of the company's stock valued at $2,179,000 after buying an additional 68,281 shares during the period. Finally, Wasatch Advisors LP increased its holdings in shares of TEGNA by 5,517.6% in the second 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. 92.19% of the stock is owned by institutional investors and hedge funds.

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.

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