Nexstar Media Group, Inc. (NXST) to Issue Quarterly Dividend of $1.69 on November 29th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Friday, November 1st, Zacks reports. Shareholders of record on Friday, November 15th will be given a dividend of 1.69 per share on Friday, November 29th. This represents a $6.76 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, November 15th.

Nexstar Media Group has raised its dividend by an average of 34.1% per year over the last three years and has raised its dividend every year for the last 11 years. Nexstar Media Group has a dividend payout ratio of 45.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nexstar Media Group to earn $18.00 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 37.6%.

Nexstar Media Group Stock Up 0.7 %

NXST stock opened at $177.08 on Friday. Nexstar Media Group has a 12-month low of $140.92 and a 12-month high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.20 and a beta of 1.48. The company has a 50 day moving average of $167.82 and a two-hundred day moving average of $166.40.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $2.64 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Insider Activity at Nexstar Media Group

In related news, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now owns 5,216 shares in the company, valued at $859,596.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NXST shares. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Benchmark dropped their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Guggenheim dropped their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.71.

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.