Market Rating: Is Tegna Inc (NYSE:TGNA) a Sell? How Analyst Rate it? Why JP Morgan Downgraded The Stock

November 23, 2016 - By Clifton Ray

Market Rating: Is Tegna Inc (NYSE:TGNA) a Sell? How Analyst Rate it? Why JP Morgan Downgraded The Stock

Tegna Inc (NYSE:TGNA) Downgrade

Tegna Inc (NYSE:TGNA) was decreased by JP Morgan from a “Overweight” rating to a “Neutral” rating in a a note revealed to clients on Wednesday morning.

Tegna Inc (NYSE:TGNA) Ratings Coverage

Out of 8 analysts covering Tegna Inc (NYSE:TGNA), 4 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 50% are positive. $35.0 is the highest target while $21 is the lowest. The $28.38 average target is 28.53% above today’s ($22.08) stock price. Tegna Inc has been the topic of 17 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Barrington Research maintained Tegna Inc (NYSE:TGNA) on Wednesday, August 26 with “Outperform” rating. As per Tuesday, November 1, the company rating was upgraded by FBR Capital. As per Wednesday, July 27, the company rating was maintained by Jefferies. The stock of Tegna Inc (NYSE:TGNA) has “Buy” rating given on Friday, August 19 by Benchmark. The stock of Tegna Inc (NYSE:TGNA) earned “Hold” rating by Evercore on Friday, June 10. The stock of Tegna Inc (NYSE:TGNA) has “Equal-Weight” rating given on Thursday, November 3 by Stephens. The firm has “Outperform” rating given on Monday, August 24 by Wells Fargo. The company was maintained on Wednesday, October 21 by FBR Capital. The stock of Tegna Inc (NYSE:TGNA) earned “Equal-Weight” rating by Barclays Capital on Friday, August 14. The stock of Tegna Inc (NYSE:TGNA) has “Underweight” rating given on Friday, April 1 by Barclays Capital.

About 1.19M shares traded hands. Tegna Inc (NYSE:TGNA) has declined 4.64% since April 21, 2016 and is downtrending. It has underperformed by 9.97% the S&P500.

TEGNA Inc., formerly Gannett Co., Inc., includes a portfolio of media and digital businesses that provide content. The company has a market cap of $4.78 billion. The Firm operates through two divisions: TEGNA Media and TEGNA Digital (Digital Segment). It has a 10.27 P/E ratio. The Company’s media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content.

According to Zacks Investment Research, “TEGNA owns the broadcasting assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA, Inc. (Ticker: TGNA) and a publishing company called Gannett Co., Inc. (Ticker: GCI). TEGNA owns 64 television stations and is the largest independent television station group of major network affiliates in the top 25 markets. TEGNA’s digital assets include sites like Cars.com, CareerBuilder and others.”

TGNA Company Profile

TEGNA Inc., formerly Gannett Co., Inc., incorporated on February 23, 1972, includes a portfolio of media and digital businesses that provide content. The Firm operates through two divisions: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). The Company’s media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content. The Company’s digital business consists of its Cars.com and CareerBuilder business units that operate in the automotive and human capital solutions industries.

Another recent and important Tegna Inc (NYSE:TGNA) news was published by Businesswire.com which published an article titled: “TEGNA Names Richard J. Dyer President and General Manager of WUSA in …” on November 21, 2016.

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