Nexstar Media Group, Inc. (NXST) to Distribute Quarterly Dividend of $1.86 on August 28th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, August 14th will be given a dividend of 1.86 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, August 14th.

Nexstar Media Group has increased its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Nexstar Media Group has a dividend payout ratio of 28.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nexstar Media Group to earn $19.77 per share next year, which means the company should continue to be able to cover its $7.44 annual dividend with an expected future payout ratio of 37.6%.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded down $1.27 during trading on Wednesday, reaching $183.29. The company had a trading volume of 23,173 shares, compared to its average volume of 390,809. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm’s 50-day simple moving average is $179.52 and its 200 day simple moving average is $200.43. Nexstar Media Group has a 52 week low of $154.47 and a 52 week high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.26%. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.06 EPS. Sell-side analysts forecast that Nexstar Media Group will post 37.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NXST shares. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research lowered shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.