TEGNA (NYSE:TGNA) Price Target Raised to $23.00 at Benchmark

TEGNA (NYSE:TGNA - Free Report) had its target price boosted by Benchmark from $21.00 to $23.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

TEGNA Price Performance

Shares of TGNA traded down $0.50 during mid-day trading on Friday, reaching $18.83. The company had a trading volume of 3,444,610 shares, compared to its average volume of 2,257,742. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 7.88 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The company's 50 day simple moving average is $15.51 and its 200 day simple moving average is $14.75. TEGNA has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. The firm had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 15.51% and a return on equity of 11.57%. The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Analysts expect that TEGNA will post 3.07 EPS for the current year.

Insider Buying and Selling at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now owns 154,617 shares of the company's stock, valued at $2,535,718.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 50,016 shares of company stock worth $757,218. 0.88% of the stock is currently owned by insiders.

Institutional Trading of TEGNA

Several institutional investors have recently modified their holdings of TGNA. Harbor Capital Advisors Inc. bought a new position in TEGNA during the 3rd quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of TEGNA during the first quarter worth about $46,000. US Bancorp DE lifted its stake in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after acquiring an additional 764 shares during the period. CWM LLC boosted its holdings in TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company's stock valued at $64,000 after acquiring an additional 2,741 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company's stock valued at $70,000 after acquiring an additional 3,350 shares during 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.