News stories about Tegna (NYSE:TGNA) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Tegna earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave media headlines about the company an impact score of 45.6443922913426 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Shares of Tegna (NYSE:TGNA) opened at $15.04 on Monday. The firm has a market cap of $3,236.70, a PE ratio of 11.22, a P/E/G ratio of 7.75 and a beta of 1.72. Tegna has a 52 week low of $11.59 and a 52 week high of $17.08. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.37 and a quick ratio of 1.37.
Tegna (NYSE:TGNA) last posted its earnings results on Wednesday, November 8th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $464.26 million for the quarter, compared to analysts’ expectations of $463.23 million. Tegna had a net margin of 11.10% and a return on equity of 20.50%. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. equities analysts expect that Tegna will post 1.08 EPS for the current year.
Tegna announced that its board has authorized a share buyback plan on Tuesday, September 19th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
TGNA has been the topic of several research reports. Noble Financial restated a “buy” rating on shares of Tegna in a report on Tuesday, November 14th. ValuEngine upgraded shares of Tegna from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Guggenheim initiated coverage on shares of Tegna in a report on Wednesday, October 18th. They set a “buy” rating and a $17.00 price objective on the stock. Wells Fargo & Co restated a “hold” rating and set a $14.00 price objective on shares of Tegna in a report on Friday, September 22nd. Finally, FBR & Co restated a “hold” rating and set a $15.00 price objective on shares of Tegna in a report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Tegna currently has a consensus rating of “Hold” and a consensus price target of $18.50.
In related news, EVP Todd A. Mayman sold 36,830 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $12.63, for a total value of $465,162.90. Following the sale, the executive vice president now owns 19,420 shares of the company’s stock, valued at $245,274.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Clifton A. Mcclelland III sold 7,740 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $13.69, for a total transaction of $105,960.60. Following the completion of the sale, the senior vice president now directly owns 32,335 shares in the company, valued at approximately $442,666.15. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
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Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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