TEGNA (NYSE:TGNA) Given New $20.00 Price Target at Guggenheim

TEGNA (NYSE:TGNA) had its price target decreased by Guggenheim from $22.00 to $20.00 in a research report released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.25.

TEGNA Stock Down 2.8 %

TGNA stock opened at $15.43 on Friday. TEGNA has a 1-year low of $12.35 and a 1-year high of $19.62. The business’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $17.67. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $2.47 billion, a PE ratio of 5.45 and a beta of 0.25.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a $0.125 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.24%. TEGNA’s payout ratio is presently 14.12%.

Institutional Trading of TEGNA

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of TEGNA by 26.2% during the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after purchasing an additional 184,845 shares in the last quarter. EMC Capital Management grew its stake in TEGNA by 648.8% during the fourth quarter. EMC Capital Management now owns 20,346 shares of the company’s stock worth $372,000 after buying an additional 17,629 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in TEGNA by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company’s stock worth $34,260,000 after buying an additional 93,894 shares in the last quarter. Guidance Capital Inc. bought a new position in TEGNA in the 4th quarter valued at about $476,000. Finally, World Investment Advisors LLC acquired a new position in shares of TEGNA in the 3rd quarter valued at approximately $528,000. 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.