Tegna Inc (NYSE:TGNA) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Investors of record on Friday, March 9th will be given a dividend of 0.07 per share on Monday, April 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 8th.
Tegna has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tegna to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 18.1%.
Tegna (NYSE TGNA) traded down $0.13 on Wednesday, hitting $12.71. 1,243,569 shares of the company were exchanged, compared to its average volume of 2,177,725. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.96 and a current ratio of 1.96. Tegna has a 1-year low of $11.59 and a 1-year high of $16.88. The company has a market cap of $2,785.59, a PE ratio of 5.99, a P/E/G ratio of 6.12 and a beta of 1.55.
TGNA has been the subject of a number of recent analyst reports. Noble Financial restated a “buy” rating on shares of Tegna in a research report on Tuesday, November 14th. ValuEngine upgraded shares of Tegna from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Wells Fargo & Co upgraded Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a report on Thursday, January 4th. Zacks Investment Research cut Tegna from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Tegna in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $15.63.
In other Tegna news, COO Lynn B. Trelstad sold 3,112 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $12.85, for a total transaction of $39,989.20. Following the completion of the transaction, the chief operating officer now owns 24,152 shares in the company, valued at approximately $310,353.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.
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Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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