NYSE:TGNA

TEGNA (TGNA) Stock Forecast, Price & News

$16.47

+0.15 (+0.92%)

(As of 06/7/2023 ET)

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Today's Range: $16.33
▼
$16.65
50-Day Range: $15.37
▼
$17.26
52-Week Range: $15.09
▼
$22.29

Volume: 2.64 million shs
Average Volume: 2.18 million shs
Market Capitalization: $3.71 billion

P/E Ratio: 6.17
Dividend Yield: 2.31%
Price Target: $20.67

TEGNA MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 25.5% Upside
$20.67 Price Target
Short Interest: Healthy
2.33% of Shares Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.68
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 59.43%
From $1.75 to $2.79 Per Share

Overall MarketRank^™

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

3.17 out of 5 stars

Consumer Discretionary Sector

27th out of 265 stocks

Television Broadcasting Stations Industry

5th out of 14 stocks

3.3

Analyst's Opinion

Consensus Rating
TEGNA has received a consensus rating of 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 $20.67, TEGNA has a forecasted upside of 25.5% from its current price of $16.47.
Amount of Analyst Coverage
TEGNA has only been the subject of 1 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
2.33% of the outstanding shares of TEGNA have been sold short.
Short Interest Ratio / Days to Cover
TEGNA has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in TEGNA has recently decreased by 5.59%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Yield
TEGNA pays a meaningful dividend of 2.33%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
TEGNA does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of TEGNA is 14.23%. 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 13.62% 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.

3.2

News and Social Media Coverage

News Sentiment
TEGNA has a news sentiment score of 0.68. 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 higher news sentiment than the 0.57 average news sentiment score of Consumer Discretionary companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for TEGNA this week, compared to 3 articles on an average week.
Search Interest
Only 4 people have searched for TGNA on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.
MarketBeat Follows
2 people have added TEGNA to their MarketBeat watchlist in the last 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, TEGNA insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.96% of the stock of TEGNA is held by insiders.
Percentage Held by Institutions
87.40% 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 59.43% in the coming year, from $1.75 to $2.79 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of TEGNA is 6.17, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.55.
Price to Earnings Ratio vs. Sector
The P/E ratio of TEGNA is 6.17, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 12.74.
Price to Book Value per Share Ratio
TEGNA has a P/B Ratio of 1.20. 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.

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TGNA Stock News Headlines

June 6, 2023 | americanbankingnews.com

TEGNA Inc. (NYSE:TGNA) Declares $0.10 Quarterly Dividend

June 3, 2023 | yahoo.com

Tegna Gets 8.6 Million Shares From Standard General

June 8, 2023 | Edge On The Street (Ad)

Graphite Shortage Could Derail the $7 Trillion EV Transition

Graphite (not lithium) is expected to see the largest increase in demand of all battery metals over the next decade. But projections warn of an 8 million ton shortfall of graphite by 2040. That's why 97 more graphite mines are needed just to keep up with battery production for the $7 trillion transition to electric vehicles.

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%

May 30, 2023 | americanbankingnews.com

Q3 2023 Earnings Forecast for TEGNA Inc. (NYSE:TGNA) Issued By Barrington Research

June 8, 2023 | Edge On The Street (Ad)

Graphite Shortage Could Derail the $7 Trillion EV Transition

May 27, 2023 | msn.com

Benchmark Reiterates TEGNA (TGNA) Buy Recommendation

May 26, 2023 | msn.com

Analyst Ratings for Tegna

May 25, 2023 | bizjournals.com

Tysons media company Tegna 'back on the offense' after its sale agreement is terminated

May 25, 2023 | businesswire.com

TEGNA Stations Honored with 84 Regional Edward R. Murrow Awards

May 24, 2023 | msn.com

5 On Your Side and the TEGNA Foundation issue grants to St. Louis area non-profits

May 24, 2023 | reuters.com

Tegna scraps $8.6 bln Standard General deal after regulatory pushback

May 24, 2023 | finance.yahoo.com

TEGNA Named One of the Most Community-Minded Companies in the U.S. by The Civic 50 for Fourth Consecutive Year

May 23, 2023 | bizjournals.com

KSDK parent Tegna terminates $5.4B merger deal with Standard General, says it's owed $136M

May 23, 2023 | reuters.com

Tegna terminates $8.6 billion merger with Standard General

May 23, 2023 | finance.yahoo.com

Standard General’s Tegna Takeover Dies After Money Goes

May 22, 2023 | marketwatch.com

Tegna announces $300 million buyback, dividend hike after scrapped merger deal with Standard General

May 22, 2023 | bizjournals.com

Tegna's sale agreement with Standard General terminated. The Tysons company says it's due $136M.

May 22, 2023 | seekingalpha.com

Tegna jumps 5% after Standard General deal terminated, buyback announced

May 22, 2023 | seekingalpha.com

Tegna falls ahead of Standard General deal termination deadline

May 21, 2023 | americanbankingnews.com

TEGNA (NYSE:TGNA) Earns Hold Rating from Analysts at StockNews.com

May 19, 2023 | msn.com

TEGNA: Looking To The Future

May 17, 2023 | msn.com

Tegna gains as Standard General says it;s trying to resolve FCC concerns

May 15, 2023 | yahoo.com

Parties Spar at FCC as Standard General-Tegna Financing Deadline Looms

See More Headlines

TGNA Price History

30 days | 90 days | 365 days | Advanced Chart

TGNA Company Calendar

Ex-Dividend for 4/3 Dividend: 3/09/2023
Dividend Payable: 4/03/2023
Last Earnings: 5/10/2023
Today: 6/07/2023
Ex-Dividend for 7/3 Dividend: 6/08/2023
Dividend Payable: 7/03/2023
Next Earnings (Estimated): 8/14/2023
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: $20.67
High Stock Price Forecast: $22.00
Low Stock Price Forecast: $18.00
Forecasted Upside/Downside: +25.5%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.67
Trailing P/E Ratio: 6.17
Forward P/E Ratio: 9.41
P/E Growth: N/A
Net Income: $630.47 million
Net Margins: 18.50%
Pretax Margin: 24.35%
Return on Equity: 20.62%
Return on Assets: 8.47%

Debt

Debt-to-Equity Ratio: 0.97
Current Ratio: 3.70
Quick Ratio: 3.70

Sales & Book Value

Annual Sales: $3.28 billion
Price / Sales: 1.13
Cash Flow: $3.48 per share
Price / Cash Flow: 4.73
Book Value: $13.76 per share
Price / Book: 1.20

Miscellaneous

Outstanding Shares: 225,030,000
Free Float: 222,868,000
Market Cap: $3.71 billion
Optionable: Optionable
Beta: 0.60

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

Institutional Ownership

View All Institutional Transactions

TGNA Stock - Frequently Asked Questions

Should I buy or sell TEGNA stock right now?: 3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for TEGNA in the last year. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" TGNA shares.
View TGNA analyst ratings or view top-rated stocks.
What is TEGNA's stock price forecast for 2023?: 3 analysts have issued twelve-month target prices for TEGNA's shares. Their TGNA share price forecasts range from $18.00 to $22.00. On average, they anticipate the company's share price to reach $20.67 in the next year. This suggests a possible upside of 25.5% 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 stock has decreased by 22.3% and is now trading at $16.47.
View the best growth stocks for 2023 here.
When is TEGNA's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, August 14th 2023.
View our TGNA earnings forecast.
How were TEGNA's earnings last quarter?: TEGNA Inc. (NYSE:TGNA) posted its quarterly earnings data on Wednesday, May, 10th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $740.33 million for the quarter, compared to the consensus estimate of $746 million. TEGNA had a trailing twelve-month return on equity of 20.62% and a net margin of 18.50%.
How often does TEGNA pay dividends? What is the dividend yield for TEGNA?: TEGNA declared a quarterly dividend on Wednesday, May 10th. Investors of record on Friday, June 9th will be paid a dividend of $0.095 per share on Monday, July 3rd. This represents a $0.38 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, June 8th.
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 First Trust Merger Arbitrage ETF (MARB), Formidable ETF (FORH), Invesco Dynamic Media ETF (PBS), AltShares Event-Driven ET (EVNT), Alpha Architect U.S. Quantitative Value ETF (QVAL), AltShares Merger Arbitrage ETF (ARB), Invesco S&P MidCap Value with Momentum ETF (XMVM) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV).
Is TEGNA a good dividend stock?: TEGNA (NYSE:TGNA) pays an annual dividend of $0.38 per share and currently has a dividend yield of 2.33%. The dividend payout ratio is 14.23%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TGNA will have a dividend payout ratio of 13.62% 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."
Who are TEGNA's major shareholders?: TEGNA's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (12.34%), Boston Partners (4.70%), State Street Corp (4.39%), Dimensional Fund Advisors LP (3.04%), Geode Capital Management LLC (2.14%) and LSV Asset Management (1.95%).
View institutional ownership trends.
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 $16.47.
How much money does TEGNA make?: TEGNA (NYSE:TGNA) has a market capitalization of $3.71 billion and generates $3.28 billion in revenue each year. The company earns $630.47 million in net income (profit) each year or $2.67 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 6/8/2023 by MarketBeat.com Staff

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