Tegna Inc (TGNA) is Reiterated by FBR Capital to Mkt Perform, Lowers Price Target to $ 24

Tegna Inc (TGNA) was Reiterated by FBR Capital to “Mkt Perform” while Lowering the Price Target of the company shares to $ 24 from a previous price target of $25 . FBR Capital advised their investors in a research report released on Jul 27, 2016.

On the company’s financial health, Tegna Inc reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.48. The company had revenue of $811.79 million for the quarter, compared to analysts expectations of $814.74 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Tegna Inc closed down -0.53 points or -2.34% at $22.12 with 19,80,102 shares getting traded on Thursday. Post opening the session at $22.63, the shares hit an intraday low of $22.01 and an intraday high of $22.63 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

TEGNA Inc. formerly Gannett Co. Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company’s Digital business segment includes Cars.com CareerBuilder and Shoplocal.

Tegna Inc

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