Today’s Rating Alert: Is TEGNA (TGNA) a Stock to Sell After JPMorgan Downgrade?

November 23, 2016 - By Marie Mckinney

Today's Rating Alert: Is TEGNA (TGNA) a Stock to Sell After JPMorgan Downgrade?

TEGNA (TGNA) Downgrade

JPMorgan gave TEGNA (TGNA) shares a new Neutral rating in a a report revealed to clients and investors on Wednesday morning. This is cut from the last Overweight rating.

Tegna Inc (NYSE:TGNA) Ratings Coverage

Out of 2 analysts covering TEGNA (TGNA), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $26.0 is the highest target while $26.0 is the lowest. The $26 average target is 16.54% above today’s ($22.31) stock price. TEGNA has been the topic of 2 analyst reports since August 19, 2016 according to StockzIntelligence Inc. The rating was initiated by Benchmark with “Buy” on Friday, August 19. The firm has “Outperform” rating by FBR Capital given on Tuesday, November 1.

About 321,699 shares traded hands. Tegna Inc (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 $4.83 billion. The Firm operates through two divisions: TEGNA Media and TEGNA Digital (Digital Segment). It has a 10.38 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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