Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on May 9th

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Friday, April 26th, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 1.69 per share on Friday, May 24th. This represents a $6.76 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, May 9th.

Nexstar Media Group has increased its dividend by an average of 34.1% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Nexstar Media Group has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Research 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 $6.76 annual dividend with an expected future payout ratio of 37.2%.

Nexstar Media Group Trading Down 1.3 %

Shares of NASDAQ NXST opened at $158.92 on Friday. The company’s 50 day simple moving average is $164.98 and its 200 day simple moving average is $159.11. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The firm has a market capitalization of $5.31 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.59 and a beta of 1.50. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $8.04 earnings per share. The company’s quarterly revenue was down 12.3% on a year-over-year basis. On average, analysts predict that Nexstar Media Group will post 26.73 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on NXST shares. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Rosenblatt Securities cut their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $193.83.

Insider Transactions at Nexstar Media Group

In other news, EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the sale, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the sale, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total transaction of $244,850.00. Following the sale, the director now directly owns 4,525 shares of the company’s stock, valued at approximately $751,150. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.