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

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) declared a quarterly dividend on Friday, November 1st, Zacks 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 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 payout ratio of 45.6% meaning its dividend is sufficiently covered by earnings. 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 opened at $177.08 on Friday. The firm's 50-day simple moving average is $167.71 and its 200-day simple moving average is $166.28. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group has a twelve month low of $140.92 and a twelve month high of $187.27. The firm 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 1.49.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Insider Activity

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares of the company's stock, valued at $1,277,906.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gary Weitman sold 7,261 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NXST shares. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a research report on Friday, October 4th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Friday, October 4th. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Benchmark reduced their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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