TEGNA (NYSE:TGNA) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of TEGNA (NYSE:TGNA) from a buy rating to a hold rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on TGNA. Guggenheim restated a “buy” rating and issued a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. Benchmark raised their price target on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, TEGNA has a consensus rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Price Performance

TGNA stock opened at $18.17 on Friday. The company’s 50-day moving average price is $18.16 and its two-hundred day moving average price is $16.88. TEGNA has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a $0.125 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.75%. TEGNA’s dividend payout ratio (DPR) is currently 17.67%.

Institutional Trading of TEGNA

Several hedge funds have recently modified their holdings of TGNA. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the 4th quarter valued at $27,000. Harbor Capital Advisors Inc. bought a new stake in TEGNA during the 3rd quarter valued at $28,000. Neo Ivy Capital Management bought a new stake in TEGNA during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after purchasing an additional 832 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock worth $31,000 after acquiring an additional 749 shares during the last quarter. Institutional investors own 92.19% 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.