Barrington Thinks TEGNA Inc’s Stock is Going to Recover


Barrington analyst James Goss maintained a Buy rating on TEGNA Inc (NYSE: TGNA) today and set a price target of $18. The company’s shares opened today at $10.76, close to its 52-week low of $10.

Goss noted:

“We maintain a 2018-based price target of $18 for TGNA assigning a 9x two-year-forward EV/EBITDA multiple reflecting the higher-valued EBITDA mix that reflects industry-leading positions in its broadcasting and related digital businesses. TEGNA is committed to returning capital to shareholders via a $0.28 annual dividend (yielding 2.6%) and share repurchases. TEGNA is focused on using its industry-leading position in broadcasting to establish and grow related programming and digital initiatives.”

According to TipRanks.com, Goss is a 5-star analyst with an average return of 12.5% and a 60.5% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Sirius XM Holdings Inc, and Cinemark Holdings Inc.

Currently, the analyst consensus on TEGNA Inc is Moderate Buy and the average price target is $14.71, representing a 36.7% upside.

In a report issued on May 3, Benchmark Co. also maintained a Buy rating on the stock with a $17 price target.

See today’s analyst top recommended stocks >>

TEGNA Inc’s market cap is currently $2.31B and has a P/E ratio of 8.65. The company has a Price to Book ratio of 2.23.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TEGNA, Inc. engages in the provision of innovative media services. It offers television programming and digital content, which also has a robust digital presence across online, mobile, and social platforms. The company was founded by Frank E. Gannett in 1906 and is headquartered in McLean, VA.

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