Nexstar Media Group, Inc. (NXST) to Issue Quarterly Dividend of $1.86 on May 29th

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Friday, May 1st. Shareholders of record on Friday, May 15th will be paid a dividend of 1.86 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, May 15th.

Nexstar Media Group has increased its dividend by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Nexstar Media Group has a payout ratio of 28.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nexstar Media Group to earn $17.77 per share next year, which means the company should continue to be able to cover its $7.44 annual dividend with an expected future payout ratio of 41.9%.

Nexstar Media Group Trading Down 2.8%

Shares of Nexstar Media Group stock opened at $202.37 on Friday. Nexstar Media Group has a fifty-two week low of $146.06 and a fifty-two week high of $254.30. The firm has a market cap of $6.14 billion, a PE ratio of 68.83, a P/E/G ratio of 0.80 and a beta of 0.97. The business’s fifty day moving average is $215.57 and its two-hundred day moving average is $207.78. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Benchmark dropped their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.33.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.