TEGNA Inc. (NYSE:TGNA) Receives Average Rating of “Hold” from Analysts

Shares of TEGNA Inc. (NYSE:TGNA) have earned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $19.75.

TGNA has been the topic of a number of recent research reports. Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TEGNA in a research note on Monday, December 29th.

Hedge Funds Weigh In On TEGNA

Several large investors have recently modified their holdings of the business. Financial Consulate Inc. acquired a new position in shares of TEGNA during the third quarter worth $29,000. Federated Hermes Inc. increased its holdings in TEGNA by 85.4% in the third quarter. Federated Hermes Inc. now owns 1,852 shares of the company’s stock valued at $38,000 after purchasing an additional 853 shares during the period. Smartleaf Asset Management LLC raised its position in TEGNA by 160.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,377 shares of the company’s stock worth $48,000 after purchasing an additional 1,464 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in TEGNA during the 3rd quarter worth $51,000. Finally, Bayforest Capital Ltd acquired a new position in TEGNA during the 4th quarter worth about $53,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 9.3%

Shares of TGNA opened at $21.90 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.28 and a current ratio of 2.28. TEGNA has a 52 week low of $14.87 and a 52 week high of $21.90. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 16.22 and a beta of 0.12. The stock has a fifty day moving average of $20.29 and a 200-day moving average of $20.02.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. TEGNA had a return on equity of 8.60% and a net margin of 8.11%.The business had revenue of $706.11 million for the quarter, compared to analyst estimates of $701.29 million. During the same quarter in the previous year, the company posted $1.21 EPS. TEGNA’s quarterly revenue was down 18.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that TEGNA will post 3.02 earnings per share for the current fiscal year.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 10th. TEGNA’s payout ratio is presently 37.04%.

TEGNA Company Profile

TEGNA Inc is a leading U.S. broadcast and digital media company that was formed as a spin-off from Gannett Co, Inc in June 2015. The company’s primary operations include the ownership and operation of local television stations, digital publishing platforms and marketing solutions designed to serve both national advertisers and local businesses. Through its portfolio of media assets, TEGNA delivers news, information and entertainment across multiple platforms, including over-the-air broadcasts, cable and satellite distribution, streaming services and proprietary websites and mobile apps.

TEGNA owns and operates approximately 60 television stations in 51 markets, reaching nearly 40 percent of U.S.