Nexstar Media Group, Inc. (NASDAQ:NXST) Plans $1.69 Quarterly Dividend

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Investors of record on Friday, November 15th will be paid 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 4.07%. The ex-dividend date is Friday, November 15th.

Nexstar Media Group has increased its dividend payment by an average of 34.1% per year over the last three years and has increased its dividend annually for the last 11 consecutive 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 Trading Down 1.2 %

Shares of NXST stock opened at $166.08 on Thursday. Nexstar Media Group has a 52-week low of $141.38 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $5.15 billion, a PE ratio of 9.61, a PEG ratio of 0.19 and a beta of 1.48. The stock has a fifty day simple moving average of $168.54 and a two-hundred day simple moving average of $167.12.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts predict that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Analyst Ratings Changes

NXST has been the subject of a number of analyst reports. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $198.50.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,367 shares of company stock valued at $9,060,758 over the last ninety days. 6.30% of the stock is owned by insiders.

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.