TEGNA Inc. (NYSE:TGNA - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.30 and traded as high as $18.30. TEGNA shares last traded at $18.25, with a volume of 1,887,151 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Benchmark lifted their target price on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a research report on Friday, December 13th.
Check Out Our Latest Stock Report on TEGNA
TEGNA Trading Down 2.4 %
The company has a market capitalization of $2.88 billion, a PE ratio of 6.31 and a beta of 0.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The company's fifty day moving average is $18.34 and its 200-day moving average is $16.09.
TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly 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. The business had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business's revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. On average, analysts anticipate that TEGNA Inc. will post 3.02 EPS for the current fiscal year.
TEGNA Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, December 6th. TEGNA's payout ratio is 17.67%.
Insider Transactions at TEGNA
In other news, COO Lynn B. Trelstad sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares in the company, valued at $2,535,718.80. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company's stock.
Institutional Trading of TEGNA
Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of TEGNA by 2,898.4% in the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock worth $170,521,000 after purchasing an additional 10,445,739 shares during the last quarter. Millennium Management LLC increased its holdings in TEGNA by 395.9% in the 2nd quarter. Millennium Management LLC now owns 930,722 shares of the company's stock worth $12,974,000 after buying an additional 743,052 shares during the period. Empowered Funds LLC raised its position in TEGNA by 757.4% during the 3rd quarter. Empowered Funds LLC now owns 662,417 shares of the company's stock worth $10,453,000 after buying an additional 585,156 shares during the last quarter. Squarepoint Ops LLC lifted its stake in TEGNA by 132.9% during the 2nd quarter. Squarepoint Ops LLC now owns 916,760 shares of the company's stock valued at $12,780,000 after acquiring an additional 523,120 shares during the period. Finally, Dark Forest Capital Management LP increased its stake in shares of TEGNA by 315.1% in the second quarter. Dark Forest Capital Management LP now owns 472,976 shares of the company's stock worth $6,593,000 after acquiring an additional 359,033 shares during the period. 92.19% of the stock is currently owned by institutional investors and hedge funds.
About TEGNA
(
Get Free Report)
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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