Nexstar Media Group, Inc. (NXST) to Distribute Quarterly Dividend of $1.86 on November 27th

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be given a dividend of $1.86 per share on Friday, November 27th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 13th.

Nexstar Media Group has increased its dividend by an average of 0.3% annually 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. Analysts expect Nexstar Media Group to earn $18.19 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 40.9%.

Nexstar Media Group Stock Up 0.3%

NXST stock traded up $0.66 on Wednesday, hitting $207.25. 8,424 shares of the company’s stock were exchanged, compared to its average volume of 383,004. The firm has a 50 day moving average price of $168.65 and a two-hundred day moving average price of $191.63. Nexstar Media Group has a 12-month low of $153.17 and a 12-month high of $254.30. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market cap of $6.39 billion, a P/E ratio of 18.82 and a beta of 0.97.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 5th. The company reported $7.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.08 by ($0.16). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.07 billion. Nexstar Media Group had a return on equity of 32.25% and a net margin of 5.48%. The company’s revenue for the quarter was up 78.0% compared to the same quarter last year. During the same period last year, the firm earned $2.14 EPS. As a group, equities research analysts expect that Nexstar Media Group will post 32.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of research analyst reports. Zacks Research downgraded Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings upgraded Nexstar Media Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Citigroup boosted their price objective on shares of Nexstar Media Group from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price target on Nexstar Media Group from $249.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.50.

About Nexstar Media Group

Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities. The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.