TEGNA Inc. (TGNA) To Go Ex-Dividend on March 7th

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 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, March 7th.

TEGNA has increased its dividend payment by an average of 11.3% annually over the last three years. TEGNA has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of TGNA stock opened at $18.13 on Thursday. The firm’s 50 day moving average price is $18.31 and its two-hundred day moving average price is $16.68. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA has a 52-week low of $12.35 and a 52-week high of $19.62. The stock has a market cap of $2.92 billion, a PE ratio of 6.41 and a beta of 0.52.

Analyst Upgrades and Downgrades

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