TEGNA Inc. (NYSE:TGNA - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors of record on Friday, March 7th will be paid a dividend of 0.125 per share on Tuesday, April 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, March 7th.
TEGNA has increased its dividend by an average of 11.3% annually 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 Up 0.1 %
Shares of NYSE:TGNA traded up $0.02 during mid-day trading on Friday, hitting $18.16. 644,322 shares of the company traded hands, compared to its average volume of 953,453. The stock has a market cap of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. 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 12-month low of $12.35 and a 12-month high of $19.62. The stock has a 50-day moving average price of $18.29 and a two-hundred day moving average price of $16.71.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TGNA. Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Guggenheim reaffirmed a "buy" rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. Benchmark lifted their price target on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 8th. StockNews.com upgraded TEGNA from a "hold" rating to a "buy" rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.75.
Read Our Latest Stock Analysis on TEGNA
About TEGNA
(
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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.
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