Nexstar Media Group, Inc. (NXST) to Distribute Quarterly Dividend of $1.69 on November 29th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Shareholders 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 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Friday, November 15th.

Nexstar Media Group has raised its dividend payment by an average of 34.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive 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 Stock Down 1.7 %

Shares of Nexstar Media Group stock opened at $168.18 on Wednesday. The company has a market capitalization of $5.22 billion, a P/E ratio of 9.73, a PEG ratio of 0.19 and a beta of 1.48. The business’s fifty day moving average price is $168.57 and its two-hundred day moving average price is $167.12. Nexstar Media Group has a 1-year low of $140.92 and a 1-year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

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

Insiders Place Their Bets

In related news, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the transaction, the insider now directly owns 10,684 shares of the company’s stock, valued at $1,715,957.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Sean Compton sold 3,930 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Strober sold 1,076 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.50, for a total transaction of $180,230.00. The disclosure for this sale can be found here. Insiders sold 52,367 shares of company stock worth $9,060,758 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXST. Guggenheim dropped their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price target 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. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Wells Fargo & Company lowered their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

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.