Shares of TEGNA Inc. (NYSE:TGNA) were down 5.1% during trading on Friday . The stock traded as low as $10.57 and last traded at $10.63. Approximately 2,591,042 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 2,301,239 shares. The stock had previously closed at $11.20.
Several analysts have commented on TGNA shares. Zacks Investment Research upgraded shares of TEGNA from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, February 2nd. Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of TEGNA in a research note on Thursday, February 22nd. Noble Financial reiterated a “buy” rating on shares of TEGNA in a research note on Friday, March 2nd. Guggenheim set a $16.00 price target on shares of TEGNA and gave the stock a “buy” rating in a research note on Thursday, April 12th. Finally, ValuEngine cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.56.
The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.02. The firm has a market capitalization of $2,356.54, a price-to-earnings ratio of 9.84, a PEG ratio of 5.25 and a beta of 1.57.
TEGNA (NYSE:TGNA) last posted its earnings results on Thursday, March 1st. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. TEGNA had a net margin of 20.74% and a return on equity of 19.56%. The firm had revenue of $480.45 million for the quarter, compared to the consensus estimate of $491.79 million. During the same period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. equities analysts forecast that TEGNA Inc. will post 1.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were issued a $0.07 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.63%. TEGNA’s dividend payout ratio (DPR) is presently 25.93%.
In other news, Director Neal Shapiro sold 12,385 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $12.57, for a total value of $155,679.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Lynn B. Trelstad sold 3,112 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $12.85, for a total transaction of $39,989.20. Following the completion of the sale, the chief operating officer now owns 24,152 shares in the company, valued at $310,353.20. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.
Several institutional investors have recently bought and sold shares of TGNA. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TEGNA by 35.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,029 shares of the company’s stock valued at $198,000 after purchasing an additional 3,692 shares during the last quarter. American International Group Inc. grew its holdings in TEGNA by 0.8% during the 4th quarter. American International Group Inc. now owns 488,553 shares of the company’s stock valued at $6,879,000 after purchasing an additional 4,098 shares during the last quarter. Iberiabank Corp grew its holdings in TEGNA by 32.4% during the 4th quarter. Iberiabank Corp now owns 17,687 shares of the company’s stock valued at $249,000 after purchasing an additional 4,330 shares during the last quarter. Twin Focus Capital Partners LLC grew its holdings in TEGNA by 17.3% during the 4th quarter. Twin Focus Capital Partners LLC now owns 34,597 shares of the company’s stock valued at $487,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in TEGNA by 50.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 16,494 shares of the company’s stock valued at $232,000 after purchasing an additional 5,508 shares during the last quarter. Hedge funds and other institutional investors own 99.91% of the company’s stock.
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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.
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