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 reiterated by analysts at Guggenheim in a research report issued on Friday,Benzinga reports. They presently have a $19.00 price target on the stock. Guggenheim's price objective would suggest a potential downside of 9.55% from the stock's current price.

A number of other research firms have also issued reports on TGNA. JPMorgan Chase & Co. lowered their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Benchmark cut their target price on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $22.00 price objective (up previously from $21.00) on shares of TEGNA in a research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

TEGNA Stock Down 0.2%

Shares of TGNA traded down $0.05 during midday trading on Friday, reaching $21.01. 1,159,778 shares of the stock were exchanged, compared to its average volume of 1,988,800. 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 cap of $3.38 billion, a price-to-earnings ratio of 7.56 and a beta of 0.28. The firm has a 50 day simple moving average of $17.72 and a 200-day simple moving average of $17.33. TEGNA has a 12-month low of $13.44 and a 12-month high of $21.35.

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

Institutional Trading of TEGNA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its holdings in TEGNA by 60.4% during the second quarter. Neuberger Berman Group LLC now owns 37,414 shares of the company's stock worth $627,000 after acquiring an additional 14,094 shares in the last quarter. State of Wyoming increased its stake in shares of TEGNA by 73.7% during the second quarter. State of Wyoming now owns 23,001 shares of the company's stock worth $385,000 after purchasing an additional 9,759 shares during the period. Public Sector Pension Investment Board grew its position in TEGNA by 7.2% during the second quarter. Public Sector Pension Investment Board now owns 640,099 shares of the company's stock worth $10,728,000 after buying an additional 43,231 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 buying an additional 7,393 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of TEGNA by 110.6% in the 2nd quarter. Corient Private Wealth LLC now owns 130,026 shares of the company's stock valued at $2,179,000 after purchasing an additional 68,281 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

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.