TEGNA Inc. (NYSE:TGNA) finished Wednesday with an addition of $0.13 to close at $16.54, an upside of 0.79 percent. An average of 1,975,980 shares of common stock have been traded in the last five days. There was a fall of -$0.24 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 2,154,175 shares traded, while the 50-day average volume stands at 2,040,448.
TGNA stock has decreased by -1.49% in the last month. The company shares reached their 1-month lowest point of $16.23 on 08/21/23. With the stock rallying to its 52-week high on 02/24/23, shares of the company touched a low of $15.09 and a high of $22.29 in 52 weeks. It has reached a new high 3 times so far this year and lost -21.94% or -$4.65 in price. In spite of this, the price is down -25.80% from the 52-week high.
Valuation Metrics
TEGNA Inc. (TGNA) has a trailing price-to-earnings (P/E) ratio of 5.52. The stock’s beta is 0.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.05, the price-to-book (PB) ratio at 1.24, and the price-to-cash flow ratio at 4.90.
The company has a payout ratio of 12.60%. The company’s most recent quarterly dividend payment was $0.1138 a share, representing a up of 19.79% from $0.0950 last year.
Financial Health
The quick ratio of TEGNA Inc. for the three months ended June 29 was 3.40, and the current ratio was 3.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.06 and a total debt to equity ratio of 1.06 for the quarter ending June 29. TEGNA Inc.’s EBITDA margin for the year ending June 29 is 34.52%, while its operating margin for the same period stands at 31.80%. Its gross profit as reported stood at $1.59 billion compared to revenue of $3.28 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, TEGNA Inc.’s return on assets was 9.20%.
Earnings Surprise
For the three-month period that ended June 29, TEGNA Inc. had $3.07 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $200.11 million in the quarter, while revenues were grew 34.25%. The analyst consensus anticipated TEGNA Inc.’s latest quarter earnings to come in at $0.43 per share, but it turned out to be $0.44, a 2.30% surprise. For the quarter, EBITDA amounted to $309.88 million. Shareholders own equity worth $201.52 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at TEGNA Inc. (TGNA) price momentum. RSI 9-day as of the close on 23 August was 39.99%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.78%.
As of today, TGNA’s price is $16.46 -1.43% or -$0.24 from its 5-day moving average. TGNA is currently trading -1.96% lower than its 20-day SMA and -0.54% lower than its 100-day SMA. However, the stock’s current price level is +0.61% above the SMA50 and -16.76% below the SMA200.
The stochastic %K and %D were 17.25% and 13.07%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 27.19% and the average true range at 0.28, the RSI (14) stands at 44.40%. The stock has reached -0.25 on the 9-day MACD Oscillator while the 14-day reading was at -0.40.
Analyst Ratings
Wells Fargo downgraded TEGNA Inc. (NYSE: TGNA) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for TEGNA Inc. (TGNA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TGNA, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is TGNA’s price target for the next 12 months?
Analysts predict a range of price targets between $19.00 and $23.00, with a median target of $21.00. Taking a look at these predictions, the average price target given by analysts for TEGNA Inc. (TGNA) stock is $21.00.
