TEGNA (NYSE:TGNA) received a $15.00 price target from investment analysts at Noble Financial in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Noble Financial’s target price would suggest a potential upside of 29.65% from the stock’s previous close.
Other equities analysts have also issued reports about the company. ValuEngine raised TEGNA from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 11th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $12.00 price objective on shares of TEGNA in a research note on Tuesday, August 7th. Barrington Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of TEGNA in a research note on Thursday, August 16th. Zacks Investment Research lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, B. Riley cut their price objective on TEGNA from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.46.
Shares of TGNA stock traded up $0.21 during mid-day trading on Wednesday, reaching $11.57. 80,350 shares of the stock traded hands, compared to its average volume of 1,975,957. TEGNA has a 1-year low of $10.00 and a 1-year high of $15.60. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.46 and a beta of 1.66. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 2.80.
TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. TEGNA had a return on equity of 27.72% and a net margin of 25.33%. The firm had revenue of $524.08 million for the quarter, compared to analyst estimates of $516.52 million. sell-side analysts predict that TEGNA will post 1.67 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of TGNA. Millennium Management LLC bought a new stake in TEGNA in the fourth quarter worth approximately $1,687,000. Wells Fargo & Company MN increased its holdings in TEGNA by 7.3% in the first quarter. Wells Fargo & Company MN now owns 277,861 shares of the company’s stock worth $3,165,000 after purchasing an additional 18,996 shares in the last quarter. Contrarius Investment Management Ltd increased its holdings in TEGNA by 48.1% in the first quarter. Contrarius Investment Management Ltd now owns 149,677 shares of the company’s stock worth $1,705,000 after purchasing an additional 48,591 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in TEGNA by 2.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 280,974 shares of the company’s stock worth $3,193,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. increased its holdings in TEGNA by 10.1% in the first quarter. Bbva Compass Bancshares Inc. now owns 63,831 shares of the company’s stock worth $727,000 after purchasing an additional 5,845 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
TEGNA Company Profile
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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