Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on February 12th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Wednesday, February 12th will be given a dividend of 1.86 per share on Wednesday, February 26th. This represents a $7.44 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69.

Nexstar Media Group has raised its dividend payment by an average of 34.2% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Nexstar Media Group has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nexstar Media Group to earn $13.68 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 54.4%.

Nexstar Media Group Stock Down 0.2 %

Shares of NASDAQ:NXST opened at $151.40 on Monday. Nexstar Media Group has a 52 week low of $147.25 and a 52 week high of $191.86. The company has a market capitalization of $4.70 billion, a PE ratio of 8.76, a P/E/G ratio of 0.44 and a beta of 1.45. The company’s fifty day moving average is $158.98 and its 200-day moving average is $165.38. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. Equities research analysts predict that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on NXST shares. Benchmark restated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.29.

Insider Activity

In other news, CFO Lee Ann Gliha sold 330 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the sale, the chief financial officer now owns 8,610 shares in the company, valued at $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bernadette S. Aulestia sold 500 shares of Nexstar Media Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $328,900. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,209 shares of company stock valued at $21,499,239. Company insiders own 6.30% of the company’s stock.

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.