Tegna Inc (TGNA) Position Lowered by Louisiana State Employees Retirement System

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of TEGNA (NYSE:TGNA). This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell. This dividend's record date is Jun 9, 2017 and the announcement date is May 30, 2017.

Tegna (TGNA) traded down 1.260% during trading on Friday, reaching $14.495. Overall, 14.66 Million shares exchanged hands versus its average trading volume of 5.11 Million shares. The share price has moved backward from its 20 days moving average -8.04% and negatively from its 50 days moving average -33.57%. Tegna has a one year low of $14.70 and a one year high of $26.65. On Tuesday, November 1 the stock rating was upgraded by FBR Capital to "Outperform".

Previously Tegna Inc (NYSE:TGNA) reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01.

Last time, the company shocked Wall Street by reporting EPS of $0.33, smashing the consensus of $0.32 per share.

Tegna Inc (NYSE:TGNA) has average revenue estimates of $830.45 Million, compared to low analyst estimates of $824.2 Million and high estimates of $835.2 Million for the current quarter. TEGNA Inc.'s current price of $14.55 translates into 0.48% yield. However the company reported $0.5 earnings per share for the same quarter during a year ago. Equities research analysts forecast that Tegna Inc will post $1.67 earnings per share for the current fiscal year.

In other news, SVP William A. Behan sold 24,644 shares of the business's stock in a transaction dated Tuesday, March 7th. The lowest 12-month price target for the shares is $10.25, which would be decrease of about -30% of its current value. Following the sale, the senior vice president now directly owns 8,005 shares in the company, valued at $207,089.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

TGNA has been the subject of several research analyst reports.

JP Morgan "Downgrades" Tegna Inc (NYSE:TGNA) in a research note issued to investors on 11/23/16 to Neutral with price target of $0. Jefferies maintained the stock with "Hold" rating in Thursday, June 1 report. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock of Tegna Inc (NYSE:TGNA) has "Hold" rating given on Wednesday, July 27 by Jefferies. The third largest holder is State Street Corp, which now holds $142.86 million worth of this stock and that ownership represents almost 4.33% of its market capitalization. BlackRock Inc. now owns 13,306,717 shares of the company's stock worth $340,917,000 after buying an additional 12,896,690 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Tegna by 221.1% in the third quarter. Clinton Group Inc. purchased a new position in shares of Tegna during the first quarter worth $954,000.

In the past 5 years, the stock showed growth of -0.03% per annum. Greatmark Investment Partners Inc. purchased a new stake in Tegna during the first quarter valued at $213,000. State Street Corp now owns 9,731,739 shares of the company's stock valued at $249,313,000 after buying an additional 92,596 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Tegna by 3.3% in the first quarter.

Tegna Inc. has a portfolio of media and digital businesses that provide content.

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  • Zachary Reyes