TEGNA Inc. (NYSE:TGNA) shares traded -0.68% lower at $16.13 on Wall Street last session.
In accordance with the data, 6 analysts cover TEGNA Inc. (NYSE:TGNA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $18.00, we find $21.00. Given the previous closing price of $16.24, this indicates a potential upside of 29.31 percent. TGNA stock price is now -0.13% away from the 50-day moving average and -13.14% away from the 200-day moving average. The market capitalization of the company currently stands at $3.56B.
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It has been rated a hold by 3 analysts and a buy by 3. Brokers who have rated the stock have averaged $20.75 as their price target over the next twelve months.
With the price target maintained at $24, Wells Fargo recently Downgraded its rating from Overweight to Equal Weight for TEGNA Inc. (NYSE: TGNA).
Insiders disposed of 335,687 shares of company stock worth roughly $5.41 million over the past 1 year. A total of 0.91% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TGNA stock. A new stake in TEGNA Inc. shares was purchased by SESSA CAPITAL IM, L.P. during the first quarter worth $58,364,000. QUINN OPPORTUNITY PARTNERS LLC invested $24,169,000 in shares of TGNA during the first quarter. In the first quarter, RUFFER LLP acquired a new stake in TEGNA Inc. valued at approximately $24,111,000. VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. acquired a new stake in TGNA for approximately $23,025,000. FLAT FOOTED LLC purchased a new stake in TGNA valued at around $9,342,000 in the second quarter. In total, there are 502 active investors with 91.00% ownership of the company’s stock.
TEGNA Inc. (NYSE: TGNA) opened at $16.17 on Wednesday. During the past 12 months, TEGNA Inc. has had a low of $15.09 and a high of $22.29. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 3.70, and a quick ratio of 3.70. According to the stock market information, the enterprise value for the company is $5.73B, which is based on a 6.05 price-to-earnings ratio, a 0.61 price-to-earnings-growth ratio, and a beta of 0.62. The fifty day moving average price for TGNA is $16.14 and a two-hundred day moving average price translates $18.54 for the stock.
The latest earnings results from TEGNA Inc. (NYSE: TGNA) was released for Mar, 2023. According to the Broadcasting Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.46 by 0.01. This compares to $0.60 EPS in the same period last year. The net profit margin was 18.50% and return on equity was 20.30% for TGNA. The company reported revenue of $740.33 million for the quarter, compared to $774.12 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.37 percent. For the current quarter, analysts expect TGNA to generate $735.76M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/09/2023 were paid a $0.095 dividend. On an annualized basis, this represents a $0.38 dividend and a 2.36% percent yield. There was an ex-dividend date of 06/08/2023 for this dividend. In terms of dividend payout ratio, TGNA is presently at 14.20%.
TEGNA Inc.(TGNA) Company Profile
TEGNA Inc. operates as a media company in the United States. The company operates television stations that deliver television programming and digital content. It offers news content to consumers across various platforms, including online, mobile, connected television, and social platforms; owns and operates multicast networks under the names True Crime Network, Quest, and Twist that offer on-demand episodes of shows; and operates VAULT Studios, which provides true crime and investigative content in the form of podcasts and original television programs. In addition, the company provides solutions for advertisers through TEGNA Marketing Solutions (TMS). TMS delivers results for advertisers across television and digital platforms, as well as over-the-top (OTT) platforms, including Premion OTT advertising network. It operates 64 television stations in 51 markets. TEGNA Inc. was founded in 1906 and is headquartered in Tysons, Virginia.
