TEGNA Inc. (NYSE:TGNA)‘s stock had its “hold” rating restated by FBR & Co in a research report issued on Wednesday. They currently have a $15.00 price objective on the stock. FBR & Co’s target price would suggest a potential upside of 19.14% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Benchmark Co. reiterated a “buy” rating and issued a $20.00 price target on shares of TEGNA in a research report on Friday, June 16th. Zacks Investment Research cut TEGNA from a “hold” rating to a “strong sell” rating in a research report on Monday, June 5th. TheStreet cut TEGNA from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. ValuEngine upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $13.00 price target (down from $20.00) on shares of TEGNA in a research report on Monday, June 5th. 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 company. The company currently has a consensus rating of “Hold” and an average price target of $19.64.

Shares of TEGNA (NYSE TGNA) opened at 12.59 on Wednesday. TEGNA has a 1-year low of $11.46 and a 1-year high of $17.06. The company has a market capitalization of $2.71 billion, a PE ratio of 15.39 and a beta of 1.76. The firm has a 50-day moving average price of $12.78 and a 200-day moving average price of $14.78.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. TEGNA had a return on equity of 20.51% and a net margin of 11.90%. The firm had revenue of $489.36 million for the quarter, compared to analysts’ expectations of $486.29 million. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that TEGNA will post $1.09 earnings per share for the current year.

TEGNA declared that its board has approved a share repurchase program on Tuesday, September 19th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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A number of institutional investors have recently bought and sold shares of TGNA. Ameritas Investment Partners Inc. acquired a new position in TEGNA in the first quarter worth $131,000. ARS Investment Partners LLC acquired a new position in TEGNA in the first quarter worth $135,000. Synovus Financial Corp boosted its stake in TEGNA by 4.4% in the second quarter. Synovus Financial Corp now owns 10,304 shares of the company’s stock worth $148,000 after purchasing an additional 438 shares in the last quarter. FNY Partners Fund LP acquired a new position in TEGNA in the second quarter worth $158,000. Finally, Iberiabank Corp acquired a new position in TEGNA in the second quarter worth $170,000. 98.00% of the stock is currently owned by institutional investors.

About TEGNA

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.

Analyst Recommendations for TEGNA (NYSE:TGNA)

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