RBC Capital Initiates Coverage on Tegna (NYSE:TGNA). What May be Next?

Author

28 September, 2017

Company shares last traded at $12.92 which is slightly above the 50 day moving average which is $12.78 and impressively lower than the 200 day moving average of $14.78.

On average, analysts expect that TEGNA will report full-year sales of $460.19 million for the current financial year, with estimates ranging from $1.88 billion to $1.96 billion. During the same quarter in the prior year, the company posted $0.50 EPS.

While looking at the Stock's Performance, TEGNA Inc. now shows a Weekly Performance of 4.52%, where Monthly Performance is 2.05%, Quarterly performance is -12.39%, 6 Months performance is -21.14% and yearly performance percentage is -5.4%.

The company is trading up by 0.43% percent from yesterday's close. The Return on Equity (ROE) value stands at 9.7%. The firm had revenue of $489.36 million for the quarter, compared to the consensus estimate of $486.29 million. The business's revenue was up 2.6% compared to the same quarter previous year.

Several equities research analysts recently commented on the company.

RBC Capital started covering the stock with a rating of "Sector Perform". On Monday, August 24 the stock rating was downgraded by Wells Fargo to "Outperform". ValuEngine upgraded shares of TEGNA from a "hold" rating to a "buy" rating in a research report on Thursday, July 27th. The firm has "Buy" rating given on Friday, June 16 by Benchmark. Finally, BidaskClub lowered TEGNA from a "buy" rating to a "hold" rating in a report on Saturday, August 5th. Two brokerage firms recommended the company shares with a sell recommendation, eight have issued a hold recommendation and around three has issued a buy recommendation to the firms shares. The stock has a consensus rating of "Hold" and a consensus price target of $19.29. BlackRock Inc. now owns 13,306,717 shares of the company's stock valued at $340,917,000 after buying an additional 12,896,690 shares during the period. 1,489,092 shares of the stock traded hands. TEGNA has a 1-year low of $11.46 and a 1-year high of $17.06.

The Relative Volume of the company is 1.27 and Average Volume (3 months) is 2.57 million. The stock has a 50 day moving average of $13.31 and a 200 day moving average of $14.99.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date will be on Thursday September 7th, 2017. TEGNA's dividend payout ratio (DPR) is 16.97%.

COPYRIGHT VIOLATION NOTICE: "TEGNA Inc. (TGNA)" was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of United States and worldwide trademark and copyright laws. TGNA's profit would be $49.41 million giving it 14.07 P/E if the $0.23 EPS is correct.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TGNA. BlackRock Inc. increased its stake in shares of TEGNA by 3,145.3% in the first quarter. Clark Capital Management Group Inc. purchased a new position in shares of TEGNA in the 1st quarter worth approximately $14,889,000. Rhumbline Advisers grew its position in shares of TEGNA by 4.4% in the 2nd quarter. Victory Capital Management Inc. now owns 12,895,698 shares of the company's stock worth $185,828,000 after purchasing an additional 6,127,293 shares during the period.


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