TEGNA Inc. was Downgraded to a Hold Rating at J.P. Morgan

By Jason Carr

TEGNA Inc. (NYSE: TGNA) received a Hold rating from J.P. Morgan analyst Alexia Quadrani today. The company’s shares closed yesterday at $22.62.

According to TipRanks.com, Quadrani is a 4-star analyst with an average return of 9.1% and a 63.5% success rate. Quadrani covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Madison Square Garden Co., and Cinemark Holdings Inc.

TEGNA Inc. has an analyst consensus of Hold, with a price target consensus of $24.75.

Based on TEGNA Inc.’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $860 million and quarterly net profit of $119 million. In comparison, last year the company earned revenue of $807 million and had a net profit of $88.26 million.

TEGNA, Inc. is comprised of a dynamic portfolio of media and digital businesses that provide content that matters and brands that deliver. It operates its business through the Media and Digital business segments. The segment includes television stations and is the independent station group of major network affiliates. The Digital segment is comprised of Cars.com; the online destination for automotive consumers; CareerBuilder; a global provider in human capital solutions; and other brands such as G/O Digital and Cofactor. The company was founded by Frank E. Gannett in 1906 and is headquartered in McLean, VA.