TEGNA (NYSE:TGNA – Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $18.00 to $19.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.05% from the company’s current price.
TGNA has been the topic of a number of other research reports. StockNews.com started coverage on shares of TEGNA in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Benchmark cut their price objective on shares of TEGNA from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 12th.
Read Our Latest Research Report on TGNA
TEGNA Stock Performance
TEGNA stock traded up $0.26 during mid-day trading on Friday, reaching $17.11. 895,693 shares of the company traded hands, compared to its average volume of 1,978,841. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.70 and a quick ratio of 3.70. TEGNA has a fifty-two week low of $15.09 and a fifty-two week high of $22.29. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 6.36 and a beta of 0.61. The firm’s fifty day moving average is $16.26 and its two-hundred day moving average is $17.15.
TEGNA (NYSE:TGNA – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. TEGNA had a net margin of 18.50% and a return on equity of 20.62%. The business had revenue of $732.00 million for the quarter, compared to analyst estimates of $733.39 million. During the same quarter in the prior year, the business posted $0.60 EPS. TEGNA’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts expect that TEGNA will post 1.83 earnings per share for the current fiscal year.
Institutional Trading of TEGNA
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGNA. Boston Partners lifted its stake in shares of TEGNA by 272.4% in the first quarter. Boston Partners now owns 10,496,738 shares of the company’s stock worth $177,685,000 after buying an additional 7,677,797 shares in the last quarter. Sessa Capital IM L.P. purchased a new position in shares of TEGNA in the first quarter worth about $61,186,000. Fuller & Thaler Asset Management Inc. increased its position in TEGNA by 555,167.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,554,228 shares of the company’s stock worth $57,215,000 after purchasing an additional 2,553,768 shares during the last quarter. Norges Bank acquired a new stake in TEGNA during the fourth quarter worth about $51,288,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in TEGNA during the first quarter worth about $25,337,000. Institutional investors and hedge funds own 86.17% 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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