TEGNA Inc [NYSE: TGNA] price plunged by -7.28 percent to reach at -$1.12. The company report on February 1, 2024 at 8:30 AM that TEGNA’s Premion Acquires Next-Generation DSP Octillion Media to Expand CTV Advertising Capabilities.
TEGNA Inc. (NYSE: TGNA) today announced that Premion, LLC, its industry-leading premium Connected TV (CTV)/Over-the-Top (OTT) advertising platform for regional and local advertisers, has signed an agreement and simultaneously closed on the acquisition of Octillion Media. Octillion is a next-generation demand-side platform (DSP) focused on Local CTV/OTT advertising. The acquisition will expand Premion’s capabilities in the growing CTV marketplace by combining Octillion’s cutting-edge technology with Premion’s award-winning local CTV/OTT advertising solution.
“Octillion is precisely the type of smart bolt-on acquisition we have long considered to accelerate our already successful organically grown Premion business,” said Dave Lougee, president and CEO, TEGNA.
The one-year TGNA stock forecast points to a potential upside of 26.44. The average equity rating for TGNA stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $19.40 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 2.00. 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.
JP Morgan have made an estimate for TEGNA Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2023.
The Average True Range (ATR) for TEGNA Inc is set at 0.35, with the Price to Sales ratio for TGNA stock in the period of the last 12 months amounting to 0.91. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 2.81. Price to Free Cash Flow for TGNA in the course of the last twelve months was 4.90 with Quick ratio for the last quarter at 3.47.
TGNA Stock Performance Analysis:
TEGNA Inc [TGNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.47. With this latest performance, TGNA shares dropped by -8.64% in over the last four-week period, additionally sinking by -16.50% over the last 6 months – not to mention a drop of -28.65% 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 29.85, with the RSI for the last a single of trading hit 23.83, and the three-weeks RSI is set at 34.81 for TEGNA Inc [TGNA]. The present Moving Average for the last 50 days of trading for this stock 15.40, while it was recorded at 15.21 for the last single week of trading, and 15.71 for the last 200 days.
Insight into TEGNA Inc Fundamentals:
TEGNA Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.47 and a Current Ratio set at 3.47.
TGNA Stock EPS
With the latest financial reports released by the company, TEGNA Inc posted 0.98/share EPS, while the average EPS was predicted by analysts to be reported at 1.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.90%. 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%.
TEGNA Inc [TGNA] Institutonal Ownership Details
The top three institutional holders of TGNA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TGNA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TGNA stock with ownership which is approximately 5.8325%.
