TEGNA (NYSE:TGNA) Sets New 52-Week Low at $15.09

TEGNA Inc. (NYSE:TGNA – Get Rating)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $15.09 and last traded at $15.16, with a volume of 486893 shares. The stock had previously closed at $15.32.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TGNA. Wells Fargo & Company decreased their price target on TEGNA from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, February 27th. StockNews.com began coverage on TEGNA in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Guggenheim decreased their price target on TEGNA from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.00.

TEGNA Price Performance

The firm has a market cap of $3.43 billion, a P/E ratio of 5.46 and a beta of 0.63. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average of $19.12 and a two-hundred day moving average of $20.04.

TEGNA (NYSE:TGNA – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $917.30 million for the quarter, compared to analyst estimates of $944.90 million. TEGNA had a return on equity of 22.51% and a net margin of 19.23%. TEGNA’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, sell-side analysts anticipate that TEGNA Inc. will post 1.75 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be given a dividend of $0.095 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.38 dividend on an annualized basis and a yield of 2.48%. TEGNA’s dividend payout ratio is currently 13.52%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC lifted its holdings in TEGNA by 3.3% during the 4th quarter. Profund Advisors LLC now owns 15,645 shares of the company’s stock worth $332,000 after buying an additional 503 shares during the period. Russell Investments Group Ltd. lifted its holdings in TEGNA by 0.7% during the 4th quarter. Russell Investments Group Ltd. now owns 70,071 shares of the company’s stock worth $1,485,000 after buying an additional 516 shares during the period. Texas Permanent School Fund lifted its holdings in TEGNA by 0.3% during the 3rd quarter. Texas Permanent School Fund now owns 160,458 shares of the company’s stock worth $3,318,000 after buying an additional 521 shares during the period. Mission Wealth Management LP lifted its holdings in TEGNA by 1.5% during the 4th quarter. Mission Wealth Management LP now owns 37,782 shares of the company’s stock worth $801,000 after buying an additional 560 shares during the period. Finally, Brookstone Capital Management lifted its holdings in TEGNA by 1.8% during the 3rd quarter. Brookstone Capital Management now owns 33,283 shares of the company’s stock worth $681,000 after buying an additional 604 shares during the period. 87.40% of the stock is owned by institutional investors and hedge funds.

TEGNA Company Profile

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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.