Guidance Capital Inc. Buys New Shares in TEGNA Inc. (NYSE:TGNA)

Guidance Capital Inc. bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,128 shares of the company’s stock, valued at approximately $476,000.

Several other institutional investors have also made changes to their positions in TGNA. Sanctuary Advisors LLC purchased a new position in shares of TEGNA in the second quarter worth approximately $227,000. SG Americas Securities LLC purchased a new stake in shares of TEGNA in the third quarter worth approximately $626,000. CWM LLC lifted its position in shares of TEGNA by 1,293.2% in the third quarter. CWM LLC now owns 64,283 shares of the company’s stock worth $1,014,000 after purchasing an additional 59,669 shares in the last quarter. Creative Planning lifted its position in shares of TEGNA by 10.8% in the third quarter. Creative Planning now owns 53,240 shares of the company’s stock worth $840,000 after purchasing an additional 5,192 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in shares of TEGNA in the third quarter worth approximately $373,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Trading Down 0.1 %

Shares of NYSE TGNA opened at $18.34 on Thursday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 6.48 and a beta of 0.52. The business has a 50 day simple moving average of $18.36 and a 200 day simple moving average of $16.59. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $806.83 million for the quarter, compared to the consensus estimate of $795.72 million. During the same period last year, the business earned $0.39 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, research analysts predict that TEGNA Inc. will post 3.02 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, December 6th. TEGNA’s payout ratio is 17.67%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TGNA shares. Benchmark increased their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Guggenheim reissued a “buy” rating and issued a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Company Profile

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.