November 23, 2016 - By Clifton Ray
JP Morgan lowered the shares of Tegna (NYSE:TGNA) from a “Overweight” rating to a “Neutral” rating in a a report made public on 23 November.
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 27.90% above today’s ($22.19) stock price. Tegna Inc has been the topic of 17 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Wells Fargo downgraded the stock to “Outperform” rating in Monday, August 24 report. The rating was downgraded by Jefferies on Tuesday, August 4 to “Hold”. The stock has “Equal-Weight” rating given by Stephens on Thursday, November 3. Barclays Capital maintained Tegna Inc (NYSE:TGNA) on Friday, August 14 with “Equal-Weight” rating. The stock of Tegna Inc (NYSE:TGNA) earned “Hold” rating by Evercore on Friday, June 10. The rating was maintained by Argus Research with “Buy” on Monday, December 7. Barrington Research maintained Tegna Inc (NYSE:TGNA) rating on Wednesday, August 26. Barrington Research has “Outperform” rating and $35.0 price target. The stock of Tegna Inc (NYSE:TGNA) earned “Overweight” rating by Stephens on Wednesday, November 18. The firm has “Hold” rating given on Wednesday, July 27 by Jefferies. The firm earned “Mkt Perform” rating on Wednesday, October 21 by FBR Capital.
About 1.13 million 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 $4.80 billion. The Firm operates through two divisions: TEGNA Media and TEGNA Digital (Digital Segment). It has a 10.32 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.”
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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By Clifton Ray