Nexstar Media Group Inc (NXST) to Issue Quarterly Dividend of $0.45 on August 23rd

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.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.02). The company had revenue of $626.65 million for the quarter, compared to analysts’ expectations of $640.35 million. Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. Research analysts expect that Nexstar Media Group will post 6.45 EPS for the current fiscal year.

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.

Further Reading: The Structure of a Futures Contract

Dividend History for Nexstar Media Group (NASDAQ:NXST)

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