TEGNA Inc. (NYSE: TGNA)’s stock price has gone decline by -2.03 in comparison to its previous close of 16.27, however, the company has experienced a 6.55% increase in its stock price over the last five trading days. Business Wire reported 2023-09-13 that TYSONS, Va.–(BUSINESS WIRE)–TEGNA will host a conference call to discuss its third quarter 2023 earnings results on Tuesday, November 7, 2023, at 10:00 a.m. (ET).
Is It Worth Investing in TEGNA Inc. (NYSE: TGNA) Right Now?
TEGNA Inc. (NYSE: TGNA) has a higher price-to-earnings ratio of 5.32x compared to its average ratio. compared to its average ratio and a 36-month beta value of 0.62. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for TEGNA Inc. (TGNA) is $21.00, which is $5.06 above the current market price. The public float for TGNA is 199.40M, and currently, short sellers hold a 2.06% ratio of that float. The average trading volume of TGNA on September 18, 2023 was 2.14M shares.
TGNA’s Market Performance
The stock of TEGNA Inc. (TGNA) has seen a 6.55% increase in the past week, with a -5.01% drop in the past month, and a -0.81% fall in the past quarter. The volatility ratio for the week is 2.76%, and the volatility levels for the past 30 days are at 2.27% for TGNA. The simple moving average for the past 20 days is -0.95% for TGNA’s stock, with a -9.15% simple moving average for the past 200 days.
Analysts’ Opinion of TGNA
Many brokerage firms have already submitted their reports for TGNA stocks, with Wells Fargo repeating the rating for TGNA by listing it as a “Equal Weight.” The predicted price for TGNA in the upcoming period, according to Wells Fargo is $24 based on the research report published on May 05, 2022 of the previous year 2022.
TGNA Trading at -3.33% from the 50-Day Moving Average
After a stumble in the market that brought TGNA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -28.49% of loss for the given period.
Volatility was left at 2.27%, however, over the last 30 days, the volatility rate increased by 2.76%, as shares sank -3.69% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.44% lower at present.
During the last 5 trading sessions, TGNA rose by +6.55%, which changed the moving average for the period of 200-days by -18.09% in comparison to the 20-day moving average, which settled at $16.06. In addition, TEGNA Inc. saw -24.78% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at TGNA starting from Trelstad Lynn B., who sale 30,000 shares at the price of $16.57 back on Aug 30. After this action, Trelstad Lynn B. now owns 181,881 shares of TEGNA Inc., valued at $497,100 using the latest closing price.
Trelstad Lynn B., the EVP and COO, Media Operations of TEGNA Inc., sale 6,591 shares at $16.65 during a trade that took place back on Aug 30, which means that Trelstad Lynn B. is holding 22,043 shares at $109,740 based on the most recent closing price.
Stock Fundamentals for TGNA
Current profitability levels for the company are sitting at:
- +30.82 for the present operating margin
- +44.67 for the gross margin
The net margin for TEGNA Inc. stands at +19.21. The total capital return value is set at 16.68, while invested capital returns managed to touch 10.45. Equity return is now at value 22.20, with 9.20 for asset returns.
Based on TEGNA Inc. (TGNA), the company’s capital structure generated 102.88 points at debt to equity in total, while total debt to capital is 50.71. Total debt to assets is 43.12, with long-term debt to equity ratio resting at 102.51. Finally, the long-term debt to capital ratio is 50.53.
When we switch over and look at the enterprise to sales, we see a ratio of 1.82, with the company’s debt to enterprise value settled at 0.43. The receivables turnover for the company is 4.93 and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.33.
Conclusion
To put it simply, TEGNA Inc. (TGNA) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
