TEGNA Inc. (NYSE:TGNA - Get Free Report) rose 6.5% during mid-day trading on Thursday . The stock traded as high as $17.80 and last traded at $17.71. Approximately 1,039,279 shares were traded during trading, a decline of 13% from the average daily volume of 1,190,181 shares. The stock had previously closed at $16.63.
Analyst Ratings Changes
TGNA has been the topic of several recent research reports. Guggenheim reaffirmed a "buy" rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. Benchmark increased 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. JPMorgan Chase & Co. increased their target price on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, TEGNA has an average rating of "Moderate Buy" and an average price target of $21.75.
Read Our Latest Research Report on TGNA
TEGNA Stock Performance
The firm has a fifty day moving average price of $18.15 and a 200 day moving average price of $16.96. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market cap of $2.86 billion, a PE ratio of 6.27 and a beta of 0.52.
TEGNA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.82%. TEGNA's dividend payout ratio is presently 17.67%.
Institutional Trading of TEGNA
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of TEGNA during the 4th quarter valued at $7,955,000. Integrated Advisors Network LLC raised its stake in TEGNA by 7.9% in the 4th quarter. Integrated Advisors Network LLC now owns 16,040 shares of the company's stock worth $293,000 after acquiring an additional 1,171 shares during the last quarter. Mackenzie Financial Corp raised its stake in TEGNA by 113.4% in the 4th quarter. Mackenzie Financial Corp now owns 88,446 shares of the company's stock worth $1,618,000 after acquiring an additional 46,996 shares during the last quarter. Neo Ivy Capital Management purchased a new position in TEGNA in the 4th quarter worth $28,000. Finally, PharVision Advisers LLC purchased a new position in TEGNA in the 4th quarter worth $332,000. Hedge funds and other institutional investors own 92.19% of the company's stock.
TEGNA Company Profile
(
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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