Tegna Inc (TGNA) is Downgraded by JP Morgan to Neutral

Tegna Inc (TGNA) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Nov 23, 2016.

Many Wall Street Analysts have commented on Tegna Inc. Company shares were Upgraded by FBR & Co. on Nov 1, 2016 to ” Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .

On the company’s financial health, Tegna Inc reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $860.27 million for the quarter, compared to analysts expectations of $869.79 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Tegna Inc closed down -0.11 points or -0.48% at $22.94 with 22,12,108 shares getting traded on Monday. Post opening the session at $23.06, the shares hit an intraday low of $22.79 and an intraday high of $23.13 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Oct 27, 2016, Tegna Inc announced a cash dividend of $0.1400. The company’s management has announced Dec 7, 2016 as the ex-dividend date and fixed the record date on Dec 9, 2016. The payable date has been fixed on Jan 3, 2017.

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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