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

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) declared a quarterly dividend on Friday, November 1st, Zacks reports. Stockholders 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 dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, November 15th.

Nexstar Media Group has raised its dividend by an average of 34.1% annually over the last three years and has increased 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. Equities research 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 Up 0.7 %

NXST stock traded up $1.16 during trading on Friday, hitting $177.08. The company had a trading volume of 353,401 shares, compared to its average volume of 230,537. The firm has a 50-day moving average price of $167.82 and a 200-day moving average price of $166.40. Nexstar Media Group has a 12 month low of $140.92 and a 12 month high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock 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 1.48.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued 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). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.64 EPS. As a group, analysts predict that Nexstar Media Group will post 25.72 earnings per share for the current year.

Analysts Set New Price Targets

NXST has been the topic of several analyst reports. Guggenheim cut their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, August 9th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price target on 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.71.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares of the company's stock, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Lee Ann Gliha sold 984 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now directly owns 9,173 shares of the company's stock, valued at approximately $1,539,412.86. 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 three months, insiders sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Company Profile

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.