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

TEGNA (NYSE:TGNA) had its price target boosted by Benchmark from $21.00 to $23.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

TEGNA Price Performance

NYSE:TGNA opened at $18.83 on Friday. TEGNA has a 52 week low of $12.35 and a 52 week high of $19.62. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $3.12 billion, a P/E ratio of 6.65 and a beta of 0.49. The stock’s fifty day moving average is $15.61 and its two-hundred day moving average is $14.80.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share 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 business had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts expect that TEGNA will post 3.07 EPS for the current year.

Insider Activity

In other 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 sale, the chief operating officer now directly owns 154,617 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 50,016 shares of company stock valued at $757,218. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new position in TEGNA during the 1st quarter worth $2,526,000. Mirae Asset Global Investments Co. Ltd. grew its stake 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 purchasing an additional 123,249 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in TEGNA by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company’s stock worth $143,714,000 after purchasing an additional 141,638 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in TEGNA by 9,100.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,000 shares of the company’s stock worth $2,749,000 after purchasing an additional 182,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in TEGNA during the 3rd quarter worth $626,000. 92.19% of the stock is owned by institutional investors and hedge funds.

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.