TEGNA Inc (NYSE: TGNA)’s stock price has plunge by -3.57relation to previous closing price of 14.30. Nevertheless, the company has seen a -4.30% plunge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-03 that TEGNA has announced a capital allocation strategy to boost performance, including a $800 million share repurchase program and a 20% increase in dividends. The company has renewed its contractual obligations, focusing on content generation, customer engagement, and sales/marketing. TGNA’s Premion, a leader in digital advertising, has acquired Octillion Media to enhance its organic growth in the connected TV space.
Is It Worth Investing in TEGNA Inc (NYSE: TGNA) Right Now?
TEGNA Inc (NYSE: TGNA) has a price-to-earnings ratio that is above its average at 6.09x. The stock has a 36-month beta value of 0.49. Opinions on the stock are mixed, with 3 analysts rating it as a “buy,” 3 as “overweight,” 6 as “hold,” and 1 as “sell.”
The public float for TGNA is 173.30M, and at present, short sellers hold a 3.77% of that float. On April 11, 2024, the average trading volume of TGNA was 2.31M shares.
TGNA’s Market Performance
TGNA stock saw a decrease of -4.30% in the past week, with a monthly decline of -8.98% and a quarterly a decrease of -11.55%. The volatility ratio for the week is 2.01%, and the volatility levels for the last 30 days are 2.15% for TEGNA Inc (TGNA). The simple moving average for the last 20 days is -4.92% for TGNA stock, with a simple moving average of -10.09% for the last 200 days.
Analysts’ Opinion of TGNA
Many brokerage firms have already submitted their reports for TGNA stocks, with JP Morgan repeating the rating for TGNA by listing it as a “Neutral.” The predicted price for TGNA in the upcoming period, according to JP Morgan is $17 based on the research report published on December 06, 2023 of the previous year 2023.
Wells Fargo, on the other hand, stated in their research note that they expect to see TGNA reach a price target of $24. The rating they have provided for TGNA stocks is “Equal Weight” according to the report published on May 05th, 2022.
TGNA Trading at -5.19% 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 -20.61% of loss for the given period.
Volatility was left at 2.15%, however, over the last 30 days, the volatility rate increased by 2.01%, as shares sank -8.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.56% lower at present.
During the last 5 trading sessions, TGNA fell by -4.30%, which changed the moving average for the period of 200-days by -9.81% in comparison to the 20-day moving average, which settled at $14.44. In addition, TEGNA Inc saw -9.87% 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 Lougee David T, who sale 43,750 shares at the price of $14.70 back on Apr 01 ’24. After this action, Lougee David T now owns 725,651 shares of TEGNA Inc, valued at $643,125 using the latest closing price.
Fisher Newberg Lauren, the SVP and Chief Legal Officer of TEGNA Inc, sale 8,477 shares at $15.00 during a trade that took place back on Mar 15 ’24, which means that Fisher Newberg Lauren is holding 1 shares at $127,155 based on the most recent closing price.
Stock Fundamentals for TGNA
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.4 for the gross margin
The net margin for TEGNA Inc stands at 0.16. The total capital return value is set at 0.11. Equity return is now at value 16.51, with 6.65 for asset returns.
Based on TEGNA Inc (TGNA), the company’s capital structure generated 0.53 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 1.14. The interest coverage ratio of the stock is 4.26.
Currently, EBITDA for the company is 733.99 million with net debt to EBITDA at 3.68. When we switch over and look at the enterprise to sales, we see a ratio of 1.8. The receivables turnover for the company is 4.59for trailing twelve months and the total asset turnover is 0.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.48.
Conclusion
To sum up, TEGNA Inc (TGNA) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
