Evercore ISI Group Downgrades Tegna Inc to Hold

Brokerage firm Evercore ISI Group Downgrades its rating on Tegna Inc(NYSE:TGNA). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Evercore ISI Group was issued on Jun 10, 2016.

In a different note, On Apr 1, 2016, Barclays said it Downgrades its rating on Tegna Inc. In the research note, the firm Lowers the price-target to $27.00 per share. The shares have been rated ‘Underweight’ by the firm.

Tegna Inc (TGNA) made into the market gainers list on Wednesdays trading session with the shares advancing 0.54% or 0.12 points. Due to strong positive momentum, the stock ended at $22.45, which is also near the day’s high of $22.76. The stock began the session at $22.36 and the volume stood at 16,85,601 shares. The 52-week high of the shares is $33.4 and the 52 week low is $21.11. The company has a current market capitalization of $4,885 M and it has 21,75,87,940 shares in outstanding.

Tegna Inc(TGNA) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $781.73M. Analysts had an estimated revenue of $780.05M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.41.

TEGNA Inc. formerly Gannett Co. Inc. is a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through Broadcasting and Digital segments. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search social media and Website development among others. The Company offers its services in a range of geographies demographics and content areas. The Company provides consumers with the information and entertainment and connects consumers to their communities through various platforms such as television stations desktop smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company’s Digital business segment includes Cars.com CareerBuilder and Shoplocal.

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