TEGNA Inc. (NYSE:TGNA) to Issue Quarterly Dividend of $0.13

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Friday, March 7th will be given a dividend of 0.125 per share on Tuesday, April 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.72%.

TEGNA has increased its dividend by an average of 11.3% per year over the last three years. TEGNA has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TEGNA to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 29.8%.

TEGNA Stock Performance

TEGNA stock traded up $0.12 during mid-day trading on Tuesday, reaching $18.41. The company’s stock had a trading volume of 1,064,777 shares, compared to its average volume of 1,064,044. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA has a twelve month low of $12.35 and a twelve month high of $19.62. The business has a 50 day moving average price of $18.33 and a 200-day moving average price of $16.65. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 6.51 and a beta of 0.52.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TGNA shares. Benchmark boosted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. StockNews.com raised TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Finally, Guggenheim reiterated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, TEGNA has an average rating of “Moderate Buy” and an average target price of $21.75.

About TEGNA

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.