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

TEGNA Inc. (NYSE:TGNA) announced a quarterly dividend on Tuesday, February 11th,RTT News reports. Shareholders 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 dividend on an annualized basis and a 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 research 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 Trading Up 0.7 %

Shares of TEGNA stock traded up $0.12 during trading on Tuesday, hitting $18.41. The stock had a trading volume of 1,064,777 shares, compared to its average volume of 1,064,044. TEGNA has a 1 year low of $12.35 and a 1 year high of $19.62. The stock has a 50 day simple moving average of $18.33 and a 200 day simple moving average of $16.65. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $2.97 billion, a PE ratio of 6.51 and a beta of 0.52.

Wall Street Analysts Forecast Growth

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