TEGNA Inc. (TGNA) Reaches New 12-Month Low at $12.28
TEGNA Inc. (NYSE:TGNA) shares hit a new 52-week low on Thursday . The stock traded as low as $12.28 and last traded at $12.27, with a volume of 2,718,770 shares changing hands. The stock had previously closed at $12.59.
Several brokerages have recently weighed in on TGNA. BidaskClub cut shares of TEGNA from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut shares of TEGNA from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. ValuEngine cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co lowered their price target on shares of TEGNA from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. Finally, Benchmark Co. reissued a “buy” rating and set a $20.00 price target on shares of TEGNA in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. TEGNA has a consensus rating of “Hold” and an average target price of $19.79.
The company has a market cap of $2.66 billion, a PE ratio of 15.11 and a beta of 1.76. The stock’s 50 day moving average is $13.48 and its 200 day moving average is $15.04.
TEGNA (NYSE:TGNA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The business had revenue of $489.36 million during the quarter, compared to the consensus estimate of $486.29 million. During the same period in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that TEGNA Inc. will post $1.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.21%. TEGNA’s dividend payout ratio (DPR) is 16.97%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of TEGNA by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 21,056,913 shares of the company’s stock valued at $539,479,000 after acquiring an additional 231,675 shares during the last quarter. BlackRock Inc. increased its holdings in shares of TEGNA by 32.2% in the 2nd quarter. BlackRock Inc. now owns 17,593,214 shares of the company’s stock valued at $253,518,000 after acquiring an additional 4,286,497 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of TEGNA by 90.5% in the 2nd quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company’s stock valued at $185,828,000 after acquiring an additional 6,127,293 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of TEGNA by 31.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 11,120,237 shares of the company’s stock valued at $160,243,000 after acquiring an additional 2,676,789 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of TEGNA by 1.0% in the 1st quarter. State Street Corp now owns 9,731,739 shares of the company’s stock valued at $249,313,000 after acquiring an additional 92,596 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.
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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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