Log Out

TEGNA (NYSE:TGNA) Stock Price Down 3.4%

Defense World · Oct 2, 2022 03:51

TEGNA Inc. (NYSE:TGNA – Get Rating) was down 3.4% during trading on Friday . The stock traded as low as $20.73 and last traded at $20.83. Approximately 42,490 shares changed hands during trading, a decline of 95% from the average daily volume of 853,553 shares. The stock had previously closed at $21.56.

Analysts Set New Price Targets

Several research firms have recently weighed in on TGNA. Huber Research upgraded TEGNA from an "underweight" rating to an "overweight" rating in a report on Monday, June 6th. StockNews.com upgraded TEGNA from a "hold" rating to a "buy" rating in a report on Monday, September 12th.

Get TEGNA alerts:

TEGNA Stock Performance

The company has a market capitalization of $4.61 billion, a P/E ratio of 8.80 and a beta of 0.78. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.39 and a quick ratio of 2.39. The company has a fifty day moving average price of $21.42 and a two-hundred day moving average price of $21.49.

TEGNA (NYSE:TGNA – Get Rating) last announced its earnings results on Monday, August 8th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. TEGNA had a return on equity of 20.18% and a net margin of 16.94%. The business had revenue of $784.90 million for the quarter, compared to analysts' expectations of $800.78 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that TEGNA Inc. will post 3 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, September 8th. TEGNA's payout ratio is presently 16.17%.

Institutional Trading of TEGNA

Institutional investors have recently added to or reduced their stakes in the stock. Heritage Financial Services LLC acquired a new position in TEGNA in the second quarter valued at approximately $26,000. Prospera Financial Services Inc acquired a new position in TEGNA in the first quarter valued at approximately $29,000. Steward Financial Group LLC acquired a new position in TEGNA in the first quarter valued at approximately $33,000. Exchange Traded Concepts LLC lifted its stake in TEGNA by 71.9% in the second quarter. Exchange Traded Concepts LLC now owns 1,781 shares of the company's stock valued at $37,000 after buying an additional 745 shares during the period. Finally, Atlas Capital Advisors LLC lifted its stake in TEGNA by 149.4% in the first quarter. Atlas Capital Advisors LLC now owns 2,494 shares of the company's stock valued at $56,000 after buying an additional 1,494 shares during the period. 90.25% of the stock is currently owned by institutional investors.

TEGNA Company Profile

(Get Rating)

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.