TGNA has been the subject of a number of other reports. ValuEngine cut shares of TEGNA from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of TEGNA from a hold rating to a sell rating in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of TEGNA from a sell rating to a hold rating in a research note on Thursday, September 28th. FBR & Co reiterated a hold rating and issued a $15.00 target price on shares of TEGNA in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada started coverage on shares of TEGNA in a research note on Tuesday, September 26th. They issued a sector perform rating and a $14.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. TEGNA currently has an average rating of Hold and an average target price of $18.44.
Shares of TEGNA (NYSE TGNA) opened at $13.01 on Tuesday. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $2,700.00, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 9.10 and a beta of 1.54. TEGNA has a one year low of $11.59 and a one year high of $17.08.
TEGNA (NYSE:TGNA) last posted its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $464.26 million during the quarter, compared to analysts’ expectations of $463.23 million. TEGNA had a net margin of 11.10% and a return on equity of 20.50%. The company’s revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. equities research analysts predict that TEGNA will post 1.09 EPS for the current fiscal year.
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TEGNA announced that its Board of Directors has authorized a share buyback program on Tuesday, September 19th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, December 7th. TEGNA’s payout ratio is 18.06%.
In other news, EVP Todd A. Mayman sold 36,830 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $12.63, for a total value of $465,162.90. Following the completion of the sale, the executive vice president now directly owns 19,420 shares in the company, valued at $245,274.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in TEGNA by 32.2% during the 2nd quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock valued at $253,518,000 after purchasing an additional 4,286,497 shares during the last quarter. Victory Capital Management Inc. raised its stake in TEGNA by 90.5% during the 2nd quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock valued at $185,828,000 after purchasing an additional 6,127,293 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in TEGNA by 0.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,177,342 shares of the company’s stock valued at $148,994,000 after purchasing an additional 57,105 shares during the last quarter. New South Capital Management Inc. raised its stake in TEGNA by 8.1% during the 2nd quarter. New South Capital Management Inc. now owns 9,538,854 shares of the company’s stock valued at $137,455,000 after purchasing an additional 711,382 shares during the last quarter. Finally, Fairpointe Capital LLC raised its stake in TEGNA by 13.3% during the 2nd quarter. Fairpointe Capital LLC now owns 8,478,230 shares of the company’s stock valued at $122,171,000 after purchasing an additional 993,543 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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