TEGNA (NYSE:TGNA) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of TEGNA (NYSE:TGNA) from a buy rating to a hold rating in a research note released on Friday.

Several other equities research analysts have also recently weighed in on TGNA. JPMorgan Chase & Co. upped their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Benchmark increased their price target on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Guggenheim reiterated a “buy” rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Finally, Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.75.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $18.17 on Friday. The company’s 50-day moving average is $18.16 and its 200 day moving average is $16.88. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market capitalization of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. TEGNA has a fifty-two week low of $12.35 and a fifty-two week high of $19.62.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is currently 17.67%.

Institutional Investors Weigh In On TEGNA

Several hedge funds and other institutional investors have recently made changes to their positions in TGNA. Jones Financial Companies Lllp bought a new position in shares of TEGNA during the 4th quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new position in shares of TEGNA during the 4th quarter valued at approximately $28,000. Tower Research Capital LLC TRC grew its stake in shares of TEGNA by 80.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after acquiring an additional 749 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after acquiring an additional 832 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

About TEGNA

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.