TEGNA (NYSE:TGNA) Stock Price Expected to Rise, Benchmark Analyst Says

TEGNA (NYSE:TGNA) had its target price raised by equities research analysts at Benchmark from $21.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 22.15% from the stock’s previous close.

TEGNA Price Performance

TGNA stock opened at $18.83 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $3.12 billion, a P/E ratio of 6.65 and a beta of 0.49. The firm’s fifty day moving average is $15.61 and its 200 day moving average is $14.79. TEGNA has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data 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. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm had revenue of $806.83 million for the quarter, compared to analysts’ expectations of $795.72 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts predict that TEGNA will post 3.07 earnings per share for the current year.

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at $2,535,718.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 50,016 shares of company stock valued at $757,218. 0.88% of the stock is currently owned by company insiders.

Institutional Trading of TEGNA

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in TEGNA by 122.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,159 shares of the company’s stock valued at $3,564,000 after purchasing an additional 123,249 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of TEGNA by 108.6% during the first quarter. BNP Paribas Financial Markets now owns 350,933 shares of the company’s stock valued at $5,243,000 after acquiring an additional 182,693 shares in the last quarter. GSA Capital Partners LLP lifted its stake in TEGNA by 59.9% in the first quarter. GSA Capital Partners LLP now owns 55,571 shares of the company’s stock worth $830,000 after acquiring an additional 20,811 shares during the period. Texas Permanent School Fund Corp boosted its holdings in TEGNA by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 172,067 shares of the company’s stock valued at $2,571,000 after acquiring an additional 2,240 shares in the last quarter. Finally, Empowered Funds LLC increased its position in TEGNA by 105.1% during the 1st quarter. Empowered Funds LLC now owns 231,076 shares of the company’s stock valued at $3,452,000 after purchasing an additional 118,417 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Company Profile

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.