NYSE:TGNA

TEGNA (TGNA) Stock Forecast, Price & News

$14.57

-0.11 (-0.75%)

(As of 09/29/2023 ET)

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Today's Range: $14.51
▼
$14.80
50-Day Range: $14.51
▼
$17.11
52-Week Range: $14.39
▼
$22.29

Volume: 1.47 million shs
Average Volume: 3.07 million shs
Market Capitalization: $2.94 billion

P/E Ratio: 4.86
Dividend Yield: 3.16%
Price Target: $21.00

TEGNA MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 44.1% Upside
$21.00 Price Target
Short Interest: Healthy
2.61% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.33
Based on 6 Articles This Week
Insider Trading: Selling Shares
$497,100 Sold Last Quarter
Proj. Earnings Growth: 70.76%
From $1.71 to $2.92 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.96 out of 5 stars

Consumer Discretionary Sector

23rd out of 274 stocks

Television Broadcasting Stations Industry

2nd out of 11 stocks

3.3

Analyst's Opinion

Consensus Rating
TEGNA has received a consensus rating of Moderate Buy. The company's average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $21.00, TEGNA has a forecasted upside of 44.1% from its current price of $14.57.
Amount of Analyst Coverage
TEGNA has only been the subject of 1 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
2.61% of the float of TEGNA has been sold short.
Short Interest Ratio / Days to Cover
TEGNA has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in TEGNA has recently increased by 26.83%, indicating that investor sentiment is decreasing significantly.

2.5

Dividend Strength

Dividend Yield
TEGNA pays a meaningful dividend of 3.12%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
TEGNA has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of TEGNA is 15.33%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, TEGNA will have a dividend payout ratio of 15.75% next year. This indicates that TEGNA will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for TGNA.

2.4

News and Social Media Coverage

News Sentiment
TEGNA has a news sentiment score of 0.33. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.64 average news sentiment score of Consumer Discretionary companies.
News Coverage This Week
MarketBeat has tracked 6 news articles for TEGNA this week, compared to 3 articles on an average week.
Search Interest
Only 1 people have searched for TGNA on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
MarketBeat Follows
3 people have added TEGNA to their MarketBeat watchlist in the last 30 days. This is an increase of 50% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, TEGNA insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $497,100.00 in company stock.
Percentage Held by Insiders
Only 1.10% of the stock of TEGNA is held by insiders.
Percentage Held by Institutions
89.99% of the stock of TEGNA is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for TEGNA are expected to grow by 70.76% in the coming year, from $1.71 to $2.92 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of TEGNA is 4.86, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 115.16.
Price to Earnings Ratio vs. Sector
The P/E ratio of TEGNA is 4.86, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 18.22.
Price to Book Value per Share Ratio
TEGNA has a P/B Ratio of 1.06. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About TEGNA (NYSE:TGNA) Stock

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. The company also sells commercial advertising spots of its television stations. In addition, it operates Premion, an over the top local advertising network; Hatch, a centralized 360-degree marketing services agency; and radio broadcast stations. The company was formerly known as Gannett Co., Inc. and changed its name to TEGNA Inc. in June 2015. TEGNA Inc. was founded in 1906 and is headquartered in McLean, Virginia.

TGNA Price History

30 days | 90 days | 365 days | Advanced Chart

TGNA Stock News Headlines

September 30, 2023 | yahoo.com

Tegna Names Kristie Gonzales General Manager in Atlanta

September 29, 2023 | msn.com

Tegna Appoints Kristie Gonzales President & GM of WXIA/WATL

October 1, 2023 | Goldco (Ad)

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September 28, 2023 | benzinga.com

TEGNA Station WWL in New Orleans Receives News Emmy® Award

September 13, 2023 | businesswire.com

TEGNA to Host Third Quarter 2023 Earnings Conference Call on Tuesday, November 7, 2023

September 6, 2023 | finance.yahoo.com

TEGNA Appoints Carrie Hofmann President and General Manager of WLTX in Columbia, South Carolina

September 1, 2023 | benzinga.com

Tegna Recent Insider Activity

August 17, 2023 | benzinga.com

TEGNA Stations Receive Ten National 2023 Edward R. Murrow Awards

October 1, 2023 | Goldco (Ad)

Biden's Digital Dollar Nightmare

August 17, 2023 | finance.yahoo.com

TEGNA Shareholders Overwhelmingly Re-elect Board Members and Approve Say on Pay Proposal at Annual Meeting

August 12, 2023 | msn.com

TEGNA: Despite Mixed Results, The Stock Is Undervalued

August 9, 2023 | finance.yahoo.com

TEGNA (TGNA) Q2 Earnings Beat Estimates, Revenues Fall Y/Y

August 4, 2023 | uk.finance.yahoo.com

TEGNA Inc. (TGNA) stock price, news, quote & history – Yahoo Finance

August 4, 2023 | yahoo.com

Tegna Reports Increase in Q2 Net Income to $200.1 Million

August 3, 2023 | markets.businessinsider.com

TEGNA (TGNA) Receives a Hold from Barrington

August 3, 2023 | msn.com

Tegna Reports Increase In 2Q Net Income To $200.1 Million

August 3, 2023 | finance.yahoo.com

TEGNA Inc. Reports Second Quarter 2023 Results and Provides Third Quarter Guidance

August 2, 2023 | msn.com

Tegna ticks higher amid bullish pitch from investor Mario Gabelli

July 22, 2023 | finance.yahoo.com

TGNA - TEGNA Inc.

July 6, 2023 | msn.com

Tegna Appoints Valerie Guyton President, GM at KWES, KIDY and KXVA in West Texas

July 6, 2023 | finance.yahoo.com

TEGNA Appoints Valerie Guyton President and General Manager at KWES, KIDY and KXVA in West Texas

June 23, 2023 | msn.com

Lackawanna Pro Bono receives Tegna donation

June 3, 2023 | yahoo.com

Tegna Gets 8.6 Million Shares From Standard General

June 2, 2023 | finance.yahoo.com

Are Options Traders Betting on a Big Move in TEGNA (TGNA) Stock?

June 2, 2023 | finance.yahoo.com

TEGNA Inc. Enters Into $300 Million Accelerated Share Repurchase Agreement

June 2, 2023 | seekingalpha.com

TEGNA announces $300 accelerated share buyback and a 20% raise in dividend

May 30, 2023 | msn.com

5 big dividends & buybacks: Big Lots suspends payout, Tegna hikes by 20%

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TGNA Company Calendar

Ex-Dividend for 7/3 Dividend: 6/08/2023
Dividend Payable: 7/03/2023
Last Earnings: 8/03/2023
Ex-Dividend for 10/2 Dividend: 9/07/2023
Today: 10/01/2023
Dividend Payable: 10/02/2023
Next Earnings (Confirmed): 11/07/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Television broadcasting stations
Sub-Industry: N/A
Sector: Consumer Discretionary
Current Symbol: NYSE:TGNA
CUSIP: N/A
CIK: 39899
Web: www.tegna.com
Phone: 703-873-6600
Fax: 703-854-2053
Employees: 6,300
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $21.00
High Stock Price Forecast: $22.00
Low Stock Price Forecast: $19.00
Forecasted Upside/Downside: +44.1%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $3.00
Trailing P/E Ratio: 4.86
Forward P/E Ratio: 8.52
P/E Growth: N/A
Net Income: $630.47 million
Net Margins: 20.96%
Pretax Margin: 26.90%
Return on Equity: 19.06%
Return on Assets: 7.90%

Debt

Debt-to-Equity Ratio: 1.06
Current Ratio: 3.44
Quick Ratio: 3.44

Sales & Book Value

Annual Sales: $3.28 billion
Price / Sales: 0.90
Cash Flow: $3.42 per share
Price / Cash Flow: 4.26
Book Value: $13.76 per share
Price / Book: 1.06

Miscellaneous

Outstanding Shares: 201,520,000
Free Float: 199,305,000
Market Cap: $2.94 billion
Optionable: Optionable
Beta: 0.61

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Key Executives

Mr. David T. Lougee (Age 59)
Pres, CEO & Director

Ms. Victoria Dux Harker (Age 53)
Exec. VP & CFO

Mr. Todd A. Mayman (Age 58)
Exec. VP, Chief Legal & Admin. Officer

Ms. Lynn Beall Trelstad (Age 57)
EVP & COO of Media Operations

Mr. Clifton A. McClelland III (Age 48)
Sr. VP, Principal Accounting Officer & Controller

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

TGNA Stock - Frequently Asked Questions

Should I buy or sell TEGNA stock right now?: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for TEGNA in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" TGNA shares.
View TGNA analyst ratings or view top-rated stocks.
What is TEGNA's stock price forecast for 2023?: 3 equities research analysts have issued 12 month target prices for TEGNA's shares. Their TGNA share price forecasts range from $19.00 to $22.00. On average, they expect the company's stock price to reach $21.00 in the next year. This suggests a possible upside of 44.1% from the stock's current price.
View analysts price targets for TGNA or view top-rated stocks among Wall Street analysts.
How have TGNA shares performed in 2023?: TEGNA's stock was trading at $21.19 on January 1st, 2023. Since then, TGNA shares have decreased by 31.2% and is now trading at $14.57.
View the best growth stocks for 2023 here.
Are investors shorting TEGNA?: TEGNA saw a increase in short interest in September. As of September 15th, there was short interest totaling 5,200,000 shares, an increase of 26.8% from the August 31st total of 4,100,000 shares. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.6% of the company's stock are short sold.
View TEGNA's Short Interest.
When is TEGNA's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
View our TGNA earnings forecast.
How can I listen to TEGNA's earnings call?: TEGNA will be holding an earnings conference call on Tuesday, November 7th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.
How were TEGNA's earnings last quarter?: TEGNA Inc. (NYSE:TGNA) announced its quarterly earnings results on Thursday, August, 3rd. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $732 million for the quarter, compared to analyst estimates of $733.39 million. TEGNA had a trailing twelve-month return on equity of 19.06% and a net margin of 20.96%. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share.
How often does TEGNA pay dividends? What is the dividend yield for TEGNA?: TEGNA announced a quarterly dividend on Thursday, August 3rd. Stockholders of record on Friday, September 8th will be given a dividend of $0.1138 per share on Monday, October 2nd. This represents a $0.46 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 7th. This is an increase from the stock's previous quarterly dividend of $0.10.
Read our dividend analysis for TGNA.

What ETFs hold TEGNA's stock?: ETFs with the largest weight of TEGNA (NYSE:TGNA) stock in their portfolio include Qraft AI-Enhanced Next Value ETF (NVQ), Formidable ETF (FORH), First Trust Merger Arbitrage ETF (MARB), AltShares Event-Driven ET (EVNT), Alpha Architect U.S. Quantitative Value ETF (QVAL), iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV), Distillate Small/Mid Cash Flow ETF (DSMC) and Royce Quant Small-Cap Quality Value ETF (SQLV).
Is TEGNA a good dividend stock?: TEGNA (NYSE:TGNA) pays an annual dividend of $0.46 per share and currently has a dividend yield of 3.12%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 15.33%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TGNA will have a dividend payout ratio of 15.75% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for TGNA.
What is Dave Lougee's approval rating as TEGNA's CEO?: 50 employees have rated TEGNA Chief Executive Officer Dave Lougee on Glassdoor.com. Dave Lougee has an approval rating of 80% among the company's employees.
What other stocks do shareholders of TEGNA own?: Based on aggregate information from My MarketBeat watchlists, some companies that other TEGNA investors own include Gannett (GCI), Pfizer (PFE), Procter & Gamble (PG), Walmart (WMT), AbbVie (ABBV), Alphabet (GOOG), NVIDIA (NVDA), QUALCOMM (QCOM), AT&T (T) and Starbucks (SBUX).
What is TEGNA's stock symbol?: TEGNA trades on the New York Stock Exchange (NYSE) under the ticker symbol "TGNA."
How do I buy shares of TEGNA?: Shares of TGNA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is TEGNA's stock price today?: One share of TGNA stock can currently be purchased for approximately $14.57.
How much money does TEGNA make?: TEGNA (NYSE:TGNA) has a market capitalization of $2.94 billion and generates $3.28 billion in revenue each year. The company earns $630.47 million in net income (profit) each year or $3.00 on an earnings per share basis.
How many employees does TEGNA have?: The company employs 6,300 workers across the globe.
How can I contact TEGNA?: TEGNA's mailing address is 8350 BROAD STREET SUITE 2000, TYSONS VA, 22102. The official website for the company is www.tegna.com. The company can be reached via phone at 703-873-6600, via email at dkuckelman@tegna.com, or via fax at 703-854-2053.

This page (NYSE:TGNA) was last updated on 10/1/2023 by MarketBeat.com Staff

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