Nexstar Media Group Inc (NASDAQ:NXST) declared a quarterly dividend on Friday, July 26th, NASDAQ reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.45 per share on Friday, August 23rd. This represents a $1.80 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, August 8th.
Nexstar Media Group has increased its dividend by an average of 25.4% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Nexstar Media Group has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nexstar Media Group to earn $11.42 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 15.8%.
Shares of NASDAQ:NXST opened at $98.30 on Tuesday. Nexstar Media Group has a 52-week low of $70.09 and a 52-week high of $119.93. The stock has a market capitalization of $4.55 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.53 and a beta of 1.47. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. The business has a 50-day moving average price of $103.64.
In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of Nexstar Media Group stock in a transaction on Friday, June 21st. The stock was sold at an average price of $102.17, for a total value of $63,856.25. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.40% of the stock is owned by insiders.
NXST has been the topic of several research analyst reports. ValuEngine lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub raised Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. B. Riley set a $139.00 price objective on Nexstar Media Group and gave the company a “buy” rating in a report on Tuesday, May 14th. Zacks Investment Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective on the stock in a report on Wednesday, July 17th. Finally, Barrington Research reissued a “buy” rating and issued a $135.00 price objective on shares of Nexstar Media Group in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $119.71.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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