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TEGNA Inc (TGNA) Receives a Hold from B.Riley FBR


In a report released yesterday, Barton Crockett from B.Riley FBR maintained a Hold rating on TEGNA Inc (TGNA), with a price target of $13. The company’s shares opened today at $12.54.

Crockett commented:

“TEGNA’s (TGNA-Neutral, $13 PT) 3Q18 earnings report featured upside in political revenues, but consolidated metrics that were close to in line. The guide for 4Q18 is much better than we had assumed, however, seemingly because of robust upside in political.”

According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.3% and a 54.6% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Lions Gate Ent Corp Cl A, and Qurate Retail Group Inc.

Currently, the analyst consensus on TEGNA Inc is a Moderate Buy with an average price target of $14.50, representing a 15.6% upside. In a report released today, RBC Capital also maintained a Hold rating on the stock with a $13 price target.

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Based on TEGNA Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $92.51 million. In comparison, last year the company had a net profit of $40.89 million.

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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.