Tegna Inc (TGNA) was Initiated by The Benchmark Company to “Buy” and the brokerage firm has set the Price Target at $26. The Benchmark Company advised their investors in a research report released on Aug 19, 2016.
Many Wall Street Analysts have commented on Tegna Inc. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 24 from a previous price target of $25 .
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 opened for trading at $21.33 and hit $21.43 on the upside on Wednesday, eventually ending the session at $21.35, with a gain of 0.05% or 0.01 points. The heightened volatility saw the trading volume jump to 15,94,763 shares. Company has a market cap of $4,576 M.
Investors should note that on Jul 28, 2016, Tegna Inc announced a cash dividend of $0.1400. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.
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.