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

TEGNA Inc. (NYSE:TGNA) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.75.

Several research analysts recently weighed in on TGNA shares. Zacks Research raised TEGNA from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of TEGNA in a report on Monday, December 29th.

TEGNA Stock Performance

NYSE TGNA opened at $20.97 on Monday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 9.89 and a beta of 0.12. The business’s 50 day moving average is $19.64 and its two-hundred day moving average is $20.02. TEGNA has a 12-month low of $14.87 and a 12-month high of $21.35. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.81.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.50 annualized dividend and a yield of 2.4%. TEGNA’s dividend payout ratio (DPR) is 23.58%.

Hedge Funds Weigh In On TEGNA

A number of hedge funds have recently modified their holdings of TGNA. FIL Ltd grew its holdings in TEGNA by 4.7% during the 4th quarter. FIL Ltd now owns 6,442,271 shares of the company’s stock worth $125,044,000 after acquiring an additional 287,271 shares during the period. State Street Corp increased its stake in TEGNA by 0.3% during the 4th quarter. State Street Corp now owns 6,376,851 shares of the company’s stock worth $124,564,000 after purchasing an additional 17,255 shares in the last quarter. Geode Capital Management LLC lifted its position in TEGNA by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 5,064,389 shares of the company’s stock valued at $98,311,000 after acquiring an additional 24,743 shares in the last quarter. Magnetar Financial LLC boosted its stake in TEGNA by 5.2% in the 4th quarter. Magnetar Financial LLC now owns 4,355,886 shares of the company’s stock worth $84,548,000 after purchasing an additional 215,705 shares during the period. Finally, Wasatch Advisors LP increased its holdings in TEGNA by 5,517.6% during the 2nd quarter. Wasatch Advisors LP now owns 3,242,220 shares of the company’s stock worth $54,340,000 after purchasing an additional 3,184,505 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

About TEGNA

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.