TEGNA (NYSE:TGNA) Price Target Raised to $23.00 at Benchmark

TEGNA (NYSE:TGNA) had its target price raised by research analysts at Benchmark from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 20.67% from the company’s previous close.

TEGNA Trading Down 1.3 %

Shares of NYSE TGNA opened at $19.06 on Friday. TEGNA has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. The stock has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $14.75. The stock has a market capitalization of $3.15 billion, a PE ratio of 7.88 and a beta of 0.49.

TEGNA (NYSE:TGNA) last released its earnings results 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. The firm had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. TEGNA’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. On average, equities analysts forecast that TEGNA will post 3.07 earnings per share for the current year.

Insider Activity at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of TEGNA stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now directly owns 154,617 shares in the company, valued at approximately $2,535,718.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 50,016 shares of company stock worth $757,218. Company insiders own 0.88% of the company’s stock.

Institutional Trading of TEGNA

A number of institutional investors have recently bought and sold shares of TGNA. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $3,564,000 after buying an additional 123,249 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in TEGNA by 108.6% in the 1st quarter. BNP Paribas Financial Markets now owns 350,933 shares of the company’s stock valued at $5,243,000 after buying an additional 182,693 shares in the last quarter. GSA Capital Partners LLP lifted its stake in TEGNA by 59.9% in the 1st quarter. GSA Capital Partners LLP now owns 55,571 shares of the company’s stock valued at $830,000 after buying an additional 20,811 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in TEGNA by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 172,067 shares of the company’s stock valued at $2,571,000 after buying an additional 2,240 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in TEGNA by 105.1% in the 1st quarter. Empowered Funds LLC now owns 231,076 shares of the company’s stock valued at $3,452,000 after buying an additional 118,417 shares in the last quarter. 92.19% of the stock is 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.