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

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Wednesday, February 12th will be given a dividend of 1.86 per share on Wednesday, February 26th. This represents a $7.44 annualized dividend and a dividend yield of 4.72%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69.

Nexstar Media Group has raised its dividend by an average of 34.2% annually over the last three years and has increased its dividend every year for the last 11 years. Nexstar Media Group has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nexstar Media Group to earn $17.69 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 38.2%.

Nexstar Media Group Price Performance

NXST opened at $157.48 on Wednesday. The company’s 50-day simple moving average is $161.57 and its two-hundred day simple moving average is $166.69. Nexstar Media Group has a 52-week low of $147.25 and a 52-week high of $191.86. The stock has a market capitalization of $4.88 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.26 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. As a group, analysts predict that Nexstar Media Group will post 24.53 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Finally, Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.29.

Check Out Our Latest Stock Report on NXST

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of Nexstar Media Group stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares of the company’s stock, valued at $4,358,145.60. This represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,448 shares of company stock worth $23,828,076. Insiders own 6.30% of the company’s stock.

About Nexstar Media Group

(Get Free Report)

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.

Further Reading

Dividend History for Nexstar Media Group (NASDAQ:NXST)

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