The stock of Tegna Inc (NYSE:TGNA) hit a new 52-week low and has $17.13 target or 6.00% below today’s $18.22 share price. The 8 months bearish chart indicates high risk for the $3.96 billion company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $17.13 price target is reached, the company will be worth $237.60M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.25M shares traded hands or 10.84% up from the average. Tegna Inc (NYSE:TGNA) has declined 19.07% since April 1, 2016 and is downtrending. It has underperformed by 20.28% the S&P500.
Tegna Inc (NYSE:TGNA) Ratings Coverage
Out of 8 analysts covering Tegna Inc (NYSE:TGNA), 5 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 63% are positive. Tegna Inc has been the topic of 16 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Wednesday, November 18 the stock rating was initiated by Stephens with “Overweight”. The firm has “Hold” rating given on Tuesday, August 4 by Jefferies. Benchmark initiated Tegna Inc (NYSE:TGNA) rating on Friday, August 19. Benchmark has “Buy” rating and $26 price target. The firm has “Hold” rating given on Wednesday, July 27 by Jefferies. The firm earned “Underweight” rating on Friday, April 1 by Barclays Capital. Wells Fargo downgraded Tegna Inc (NYSE:TGNA) on Tuesday, August 18 to “Market Perform” rating. The firm has “Outperform” rating given on Tuesday, November 1 by FBR Capital. On Friday, August 14 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The stock of Tegna Inc (NYSE:TGNA) has “Outperform” rating given on Monday, August 24 by Wells Fargo. FBR Capital maintained Tegna Inc (NYSE:TGNA) on Wednesday, October 21 with “Mkt Perform” rating.
According to Zacks Investment Research, “TEGNA owns the broadcasting assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA, Inc. (Ticker: TGNA) and a publishing company called Gannett Co., Inc. (Ticker: GCI). TEGNA owns 64 television stations and is the largest independent television station group of major network affiliates in the top 25 markets. TEGNA’s digital assets include sites like Cars.com, CareerBuilder and others.”
More news for Tegna Inc (NYSE:TGNA) were recently published by: Businesswire.com, which released: “TEGNA Inc. Reports Strong 2016 Third Quarter Results” on November 02, 2016. Bizjournals.com‘s article titled: “Tegna’s weak political ad revenue? Blame Donald Trump and Hillary Clinton” and published on November 02, 2016 is yet another important article.
TGNA Company Profile
TEGNA Inc., formerly Gannett Co., Inc., incorporated on February 23, 1972, includes a portfolio of media and digital businesses that provide content. The Firm operates through two divisions: TEGNA Media (Media Segment) and TEGNA Digital (Digital Segment). The Company’s media business includes approximately 50 television stations operating in over 40 markets and offers television programming and digital content. The Company’s digital business consists of its Cars.com and CareerBuilder business units that operate in the automotive and human capital solutions industries.
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