TEGNA's (TGNA) Buy Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of TEGNA (NYSE:TGNA - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $22.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of TEGNA from a "hold" rating to a "buy" rating in a report on Friday, December 13th. Benchmark upped their price objective on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th. Wells Fargo & Company upgraded shares of TEGNA from an "equal weight" rating to an "overweight" rating and increased 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 price target on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $21.75.

TEGNA Trading Up 0.1 %

Shares of TEGNA stock traded up $0.02 during trading on Friday, reaching $18.23. 845,725 shares of the company were exchanged, compared to its average volume of 1,045,928. TEGNA has a twelve month low of $12.35 and a twelve month high of $19.62. The business has a 50-day moving average price of $18.39 and a 200-day moving average price of $16.42. 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 capitalization of $2.94 billion, a price-to-earnings ratio of 6.44 and a beta of 0.52.

TEGNA (NYSE:TGNA - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm had revenue of $806.83 million during the quarter, compared to analysts' expectations of $795.72 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The company's revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that TEGNA will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, December 6th. TEGNA's dividend payout ratio is currently 17.67%.

Hedge Funds Weigh In On TEGNA

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of TEGNA during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC boosted its stake in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of TEGNA during the fourth quarter valued at approximately $57,000. Quarry LP grew its holdings in TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company's stock worth $64,000 after buying an additional 3,300 shares in the last quarter. Finally, US Bancorp DE lifted its stake in TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock valued at $71,000 after acquiring an additional 764 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

About TEGNA

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.