TheStreet Downgrades TEGNA Inc. (NYSE:TGNA) to C+
TEGNA Inc. (NYSE:TGNA) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Thursday.
Several other equities analysts also recently issued reports on TGNA. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price objective on shares of TEGNA in a research report on Monday, April 3rd. FBR & Co reduced their price objective on TEGNA from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. Wells Fargo & Company reiterated an “outperform” rating and set a $16.50 price objective on shares of TEGNA in a research report on Thursday, June 1st. ValuEngine downgraded TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded TEGNA from a “hold” rating to a “strong sell” rating in a research report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. TEGNA currently has a consensus rating of “Hold” and an average price target of $23.31.
TEGNA (NYSE:TGNA) traded down 1.02% during mid-day trading on Thursday, reaching $14.51. The company’s stock had a trading volume of 1,801,486 shares. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 7.75 and a beta of 1.74. The firm has a 50-day moving average of $18.03 and a 200-day moving average of $22.58. TEGNA has a 52 week low of $14.02 and a 52 week high of $26.65.
TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $778.50 million during the quarter, compared to the consensus estimate of $799.54 million. TEGNA had a return on equity of 19.16% and a net margin of 12.25%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities research analysts expect that TEGNA will post $1.22 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of TEGNA during the first quarter valued at about $131,000. ARS Investment Partners LLC bought a new position in TEGNA during the first quarter valued at approximately $135,000. Iberiabank Corp bought a new position in TEGNA during the second quarter valued at approximately $170,000. Ladenburg Thalmann Financial Services Inc. boosted its position in TEGNA by 7.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,552 shares of the company’s stock valued at $183,000 after buying an additional 563 shares in the last quarter. Finally, Peak Asset Management LLC bought a new position in TEGNA during the first quarter valued at approximately $205,000. 85.89% of the stock is currently owned by institutional investors.
TEGNA Company Profile
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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