Nexstar Media Group, Inc. (NASDAQ:NXST) Declares Quarterly Dividend of $1.86

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Friday, January 30th. Shareholders of record on Friday, February 13th will be given a dividend of 1.86 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, February 13th.

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 every year for the last 12 years. Nexstar Media Group has a payout ratio of 28.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nexstar Media Group to earn $13.68 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 54.4%.

Nexstar Media Group Stock Performance

NXST stock traded up $5.41 during midday trading on Friday, hitting $212.38. 399,249 shares of the stock traded hands, compared to its average volume of 316,942. Nexstar Media Group has a 1-year low of $141.66 and a 1-year high of $223.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. The stock’s fifty day simple moving average is $203.36 and its 200-day simple moving average is $198.52. The firm has a market cap of $6.44 billion, a P/E ratio of 13.17, a PEG ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company posted $5.27 earnings per share. The business’s revenue was down 12.3% on a year-over-year basis. On average, analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current year.

Nexstar Media Group Company Profile

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.