Nexstar Media Group Inc (NASDAQ:NXST) declared a quarterly dividend on Friday, January 25th, NASDAQ reports. Shareholders of record on Friday, February 8th will be paid a dividend of 0.45 per share on Friday, February 22nd. This represents a $1.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, February 7th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.38.
Nexstar Media Group has increased its dividend by an average of 25.4% annually over the last three years and has increased its dividend every year for the last 5 years. Nexstar Media Group has a dividend payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nexstar Media Group to earn $6.78 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.5%.
NXST opened at $84.24 on Wednesday. The stock has a market cap of $3.80 billion, a PE ratio of 21.17, a P/E/G ratio of 1.23 and a beta of 1.41. Nexstar Media Group has a 52-week low of $60.30 and a 52-week high of $89.75. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 2.34.
Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. The company had revenue of $693.00 million during the quarter, compared to the consensus estimate of $676.34 million. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. On average, equities research analysts forecast that Nexstar Media Group will post 8.42 earnings per share for the current year.
NXST has been the subject of several recent analyst reports. Zacks Investment Research upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Saturday, December 1st. Royal Bank of Canada upped their price target on Nexstar Media Group to $112.00 and gave the stock an “outperform” rating in a research note on Friday, January 11th. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Stephens upped their price target on Nexstar Media Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 4th. Finally, Benchmark reiterated a “buy” rating and set a $115.00 price target (up previously from $96.00) on shares of Nexstar Media Group in a research note on Tuesday, December 4th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $102.89.
In related news, Director Jay M. Grossman sold 3,125 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $80.66, for a total transaction of $252,062.50. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at approximately $4,033,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.
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Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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