The Tegna Inc (TGNA) Rating Reiterated by Wells Fargo & Co

The Tegna Inc (TGNA) Rating Reiterated by Wells Fargo & Co

A number of other research firms also recently issued reports on TGNA. FBR & Co reaffirmed a “buy” rating and set a $30.00 price target on shares of Tegna in a research note on Wednesday, March 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $26.00 price target on shares of Tegna in a research note on Monday, April 3rd. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective (up previously from $28.00) on shares of Tegna in a research report on Tuesday, March 7th. Benchmark Co. boosted their price objective on shares of Tegna from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. Finally, TheStreet upgraded shares of Tegna from a “c” rating to a “b” rating in a research report on Thursday, March 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Tegna currently has an average rating of “Hold” and a consensus target price of $25.55.

Tegna Inc (NYSE:TGNA)‘s stock had its “outperform” rating reiterated by investment analysts at Wells Fargo & Co in a research report issued on Thursday. They presently have a $16.50 target price on the stock. Wells Fargo & Co’s price target suggests a potential upside of 12.40% from the stock’s current price.

Tegna (TGNA) opened at 14.68 on Thursday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 7.84 and a beta of 1.69. Tegna has a 12-month low of $14.47 and a 12-month high of $26.65. The company’s 50 day moving average is $23.84 and its 200 day moving average is $23.69.

Tegna (NYSE:TGNA) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.33. The company had revenue of $778.50 million for the quarter, compared to the consensus estimate of $799.54 million. Tegna had a net margin of 8.21% and a return on equity of 10.15%. Tegna’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Analysts forecast that Tegna will post $1.67 earnings per share for the current fiscal year.

In other news, SVP William A. Behan sold 24,644 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $25.87, for a total value of $637,540.28. Following the transaction, the senior vice president now directly owns 8,005 shares in the company, valued at $207,089.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.68% of the company’s stock. Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus Investment Advisers Inc. bought a new position in Tegna during the third quarter worth approximately $121,000. Ameritas Investment Partners Inc. bought a new position in Tegna during the first quarter worth approximately $131,000. Fuller & Thaler Asset Management Inc. boosted its position in Tegna by 221.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 6,100 shares of the company’s stock worth $133,000 after buying an additional 4,200 shares during the last quarter. ARS Investment Partners LLC bought a new position in Tegna during the first quarter worth approximately $135,000. Finally, Seven Eight Capital LP bought a new position in Tegna during the fourth quarter worth approximately $178,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.

Tegna Company Profile Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TGNA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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