In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on TEGNA Inc (NYSE: TGNA), with a price target of $17. The company’s shares closed yesterday at $10.54, close to its 52-week low of $10.
Kurnos commented:
“We continue to like Premion as an asset embedded in the TEGNA portfolio, but believe the momentum and revenue trajectory will need to continue at a similar pace for at least another 12-24 months before investors even consider assigning some sort of valuation to it. Buy Current Price $10.54 Price Target $17.00 52-Wk Range $10.00 – $16.70 Shares Outstanding (mm) 217 Market Cap (mm) $2,289 Enterprise Value (mm) $6,020 Debt (mm) $3,731 Daniel L.”
According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 9.6% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.
Currently, the analyst consensus on TEGNA Inc is Moderate Buy and the average price target is $15.14, representing a 43.6% upside.
In a report issued on April 25, Stephens also upgraded the stock to Buy with a $14 price target.
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Based on TEGNA Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $55.19 million. In comparison, last year the company had a net profit of $57.71 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock.
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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.
