TEGNA Inc. [TGNA] moved up 1.41: Why It’s Important

TEGNA Inc. [NYSE: TGNA] gained 1.41% on the last trading session, reaching $20.12 price per share at the time. The company report on November 18, 2022 that Standard General Acquisition of TEGNA Receives Approval from Team Telecom.


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Standard General L.P. (“Standard General”) and TEGNA Inc. (NYSE: TGNA) today announced that the National Telecommunications and Information Administration, on behalf of the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (better known as “Team Telecom”), submitted a filing with the Federal Communications Commission (“FCC”) confirming it has no objections to the transaction.

“Standard General has a proven track record of increasing investment in local journalism and bringing new ideas and perspectives to local broadcasting. The pending transaction with TEGNA is about investing in and further strengthening local stations, which brings value to our viewers and our communities,” said Soo Kim, Founding Partner of Standard General. “We look forward to creating the largest minority-owned and female-led television station group in U.S. history and dramatically increasing minority broadcast ownership and viewpoint diversity.”.

TEGNA Inc. represents 223.97 million in outstanding shares, while the company has a total market value of $4.45 billion with the latest information. TGNA stock price has been found in the range of $19.76 to $20.13.

If compared to the average trading volume of 1.45M shares, TGNA reached a trading volume of 2402112 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about TEGNA Inc. [TGNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGNA shares is $24.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGNA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for TEGNA Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 05, 2022. The new note on the price target was released on April 13, 2022, representing the official price target for TEGNA Inc. stock.

The Average True Range (ATR) for TEGNA Inc. is set at 0.47, with the Price to Sales ratio for TGNA stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 1.70. Price to Free Cash Flow for TGNA in the course of the last twelve months was 7.22 with Quick ratio for the last quarter at 2.70.

Trading performance analysis for TGNA stock

TEGNA Inc. [TGNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.87. With this latest performance, TGNA shares gained by 4.41% in over the last four-week period, additionally sinking by -3.96% over the last 6 months – not to mention a drop of -0.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGNA stock in for the last two-week period is set at 54.17, with the RSI for the last a single of trading hit 58.90, and the three-weeks RSI is set at 51.17 for TEGNA Inc. [TGNA]. The present Moving Average for the last 50 days of trading for this stock 20.17, while it was recorded at 20.01 for the last single week of trading, and 21.24 for the last 200 days.

TEGNA Inc. [TGNA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and TEGNA Inc. [TGNA] shares currently have an operating margin of +26.87 and a Gross Margin at +42.27. TEGNA Inc.’s Net Margin is presently recorded at +15.95.

Return on Equity for this stock inclined to 20.77, with Return on Assets sitting at 6.93.

TEGNA Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.

TEGNA Inc. [TGNA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TGNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TEGNA Inc. go to 10.00%.

An analysis of insider ownership at TEGNA Inc. [TGNA]

There are presently around $4,013 million, or 91.00% of TGNA stock, in the hands of institutional investors. The top three institutional holders of TGNA stocks are: BLACKROCK INC. with ownership of 25,749,067, which is approximately -1.121% of the company’s market cap and around 0.77% of the total institutional ownership; VANGUARD GROUP INC, holding 22,886,547 shares of the stock with an approximate value of $460.48 million in TGNA stocks shares; and STANDARD GENERAL L.P., currently with $213.54 million in TGNA stock with ownership of nearly 0% of the company’s market capitalization.

Positions in TEGNA Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 161 institutional holders increased their position in TEGNA Inc. [NYSE:TGNA] by around 11,469,535 shares. Additionally, 152 investors decreased positions by around 15,188,454 shares, while 66 investors held positions by with 172,777,232 shares. The mentioned changes placed institutional holdings at 199,435,221 shares, according to the latest SEC report filing. TGNA stock had 32 new institutional investments in for a total of 962,484 shares, while 37 institutional investors sold positions of 3,372,836 shares during the same period.

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