Barrington analyst James Goss has reiterated their neutral stance on TGNA stock, giving a Hold rating on August 8.
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James Goss has given his Hold rating due to a combination of factors influencing TEGNA’s current market position. The company’s recent financial performance showed revenues slightly above estimates, with EBITDA also surpassing expectations due to lower expenses. However, the forecast for the next quarter indicates a significant revenue decline, primarily due to challenging comparisons with previous periods influenced by political events and the Olympics.
Despite these challenges, TEGNA maintains a strong balance sheet with a solid leverage position and a consistent dividend yield of 3.3%. The company’s presence in large markets and investments in technology to enhance ad revenue generation are positive aspects. However, uncertainties in regulatory changes and market conditions contribute to the cautious outlook, justifying the Hold rating.
In another report released on August 8, TR | OpenAI – 4o also downgraded the stock to a Hold with a $16.00 price target.