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

by · The Markets Daily

Nexstar Media Group, Inc. (NASDAQ:NXST – Get Free Report) declared a quarterly dividend on Friday, January 30th. Stockholders of record on Friday, February 13th will be paid a dividend of 1.86 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, February 13th.

Nexstar Media Group has raised its dividend by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Nexstar Media Group has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.6%

Shares of NASDAQ NXST traded up $5.41 during trading hours on Friday, reaching $212.38. The stock had a trading volume of 399,249 shares, compared to its average volume of 316,942. The business’s fifty day moving average price is $203.36 and its two-hundred day moving average price is $198.52. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.79 and a beta of 0.84. Nexstar Media Group has a 52-week low of $141.66 and a 52-week high of $223.36. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $5.27 EPS. Nexstar Media Group’s quarterly revenue was down 12.3% compared to the same quarter last year. Analysts expect that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NXST. Citigroup dropped their target price on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $222.38.

Get Our Latest Research Report on NXST

Nexstar Media Group Company Profile

(Get Free Report)

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.

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