TEGNA Inc. (NYSE:TGNA) shares traded up 6.7% on Thursday . The stock traded as high as $11.42 and last traded at $11.32, 6,206,916 shares traded hands during trading. An increase of 74% from the average session volume of 3,558,830 shares. The stock had previously closed at $10.61.
Several equities analysts have recently weighed in on the stock. Cfra raised their price target on shares of TEGNA from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Zacks Investment Research raised shares of TEGNA from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Friday, January 3rd. ValuEngine cut shares of TEGNA from a “hold” rating to a “sell” rating in a research note on Monday. Barrington Research reaffirmed a “buy” rating and set a $20.00 price target on shares of TEGNA in a research note on Tuesday, February 11th. Finally, Argus reaffirmed a “buy” rating and set a $21.00 price target on shares of TEGNA in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. TEGNA has a consensus rating of “Buy” and a consensus target price of $19.00.
The company has a debt-to-equity ratio of 2.69, a current ratio of 1.96 and a quick ratio of 1.96. The firm’s 50 day moving average is $15.27 and its two-hundred day moving average is $15.82. The firm has a market capitalization of $2.35 billion, a P/E ratio of 8.64, a PEG ratio of 0.48 and a beta of 1.53.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, March 5th. TEGNA’s dividend payout ratio is 20.29%.
Institutional investors have recently made changes to their positions in the business. Citizens Financial Group Inc RI acquired a new stake in TEGNA during the 4th quarter valued at $32,000. Chevy Chase Trust Holdings Inc. acquired a new stake in TEGNA during the 4th quarter valued at $37,000. Howard Wealth Management LLC acquired a new stake in TEGNA during the 4th quarter valued at $42,000. Great Diamond Partners LLC acquired a new stake in TEGNA during the 4th quarter valued at $62,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in TEGNA during the 4th quarter valued at $83,000. 99.60% of the stock is owned by institutional investors and hedge funds.
About TEGNA (NYSE:TGNA)
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.
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