As of Friday close, TEGNA Inc.’s (NYSE:TGNA) stock was down -$0.34, moving down -2.23 percent to $14.91. The average number of shares traded per day over the past five days has been 2,917,720 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.03 fall in that time frame. In the last twenty days, the average volume was 3,127,475, while in the previous 50 days, it was 2,418,008.
Since last month, TGNA stock retreated -9.85%. Shares of the company fell to $14.89 on 09/22/23, the lowest level in the past month. A 52-week high of $22.29 was reached on 02/24/23 after having rallying from a 52-week low of $14.90. Since the beginning of this year, TGNA’s stock price has dropped by -29.64% or -$6.28, and marked a new high 3 times. However, the stock has declined by -33.11% since its 52-week high.
TGNA stock investors should be aware that TEGNA Inc. (TGNA) stock had its last reported insider trading activity 24 days ago on Aug 30. Trelstad Lynn B., the EVP and COO, Media Operations of the company, disposed of 30,000 shares for $16.57 on Aug 30. It resulted in a $497,100 divestment by the insider. Trelstad Lynn B. sold 6,591 shares at an average price of $16.65 on Aug 30. The insider now owns 22,043 shares following the transaction.
Valuation Metrics
Right now, TEGNA Inc. (TGNA) has a P/E ratio of about 4.98. The stock’s beta is 0.63. Besides these, the trailing price-to-sales (P/S) ratio of 0.96, the price-to-book (PB) ratio of 1.12, and the price-to-cash flow ratio of 4.48 may also be considered.
The latest dividend of $0.1138 per share was paid out, which is 19.79% more than last year’s $0.0950. On Thursday August 3 2023, a $0.0188 dividend increase was announced.
Financial Health
In the three months ended June 29, TEGNA Inc.’s quick ratio stood at 3.40, while its current ratio was 3.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.06, and the total debt-to-equity ratio was 1.06. On the profitability front, the trailing twelve-month gross margin is 46.10% percent. In the year ended June 29, EBITDA margin amounted to 34.52%, whereas operating margins totaled 31.80%. Based on annual data, TGNA earned $1.59 billion in gross profit and brought in $3.28 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 12.80%. Return on equity (ROE) for the past 12 months was 22.20%.
In TEGNA Inc.’s quarter-end financial report for June 29, it reported total debt of $3.07 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TGNA’s revenue fell -7.3% to $740.33 million during the quarter, while net income inched up to $731.51 million. While analysts expected TEGNA Inc. to report $0.43 quarterly earnings, the actual figure was $0.44 per share, beating the consensus estimate by 2.30%. During the quarter, the company generated $309.88 million in EBITDA. The liabilities of TEGNA Inc. were 4.21 billion at the end of its most recent quarter ended June 29, and its total debt was $3.15 billion. The value of shareholders’ equity is $201.52 million.
Technical Picture
This quick technical analysis looks at TEGNA Inc.’s (TGNA) price momentum. With a historical volatility rate of 36.70%, the RSI 9-day stood at 35.43% on 22 September.
With respect to its five-day moving average, the current TEGNA Inc. price is down by -6.46% percent or -$1.03. At present, TGNA shares trade -9.69% below its 20-day simple moving average and -13.62% percent below its 100-day simple moving average. However, the stock is currently trading approximately -9.03% below its SMA50 and -26.19% below its SMA200.
Stochastic coefficient K was 8.20% and Stochastic coefficient D was 11.93%, while ATR was 0.45. Given the Stochastic reading of 1.29% for the 14-day period, the RSI (14) reading has been calculated as 36.67%. As of today, the MACD Oscillator reading stands at -0.47, while the 14-day reading stands at -0.44.
Analyst Ratings
TEGNA Inc. downgraded its rating on TEGNA Inc. (NYSE: TGNA) to an Equal weight in a note to investors on May 05, 2022. The analysts firm previously had an Overweight rating on the stock.TEGNA Inc. (TGNA) has been rated Overweight by analysts. According to 0 brokerage firms, TGNA is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate TEGNA Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $21.00, the current consensus forecast for the stock is $19.00 – $23.00. Based on these forecasts, analysts predict TEGNA Inc. (TGNA) will achieve an average price target of $21.00.
