Nexstar Media Group, Inc. (NASDAQ:NXST) Shares to Pay Quarterly Dividend of $1.86

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be paid a dividend of $1.86 per share on Friday, November 27th. This represents a $7.44 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, November 13th.

Nexstar Media Group has increased its dividend payment by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 12 years. Nexstar Media Group has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Nexstar Media Group to earn $18.19 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 40.9%.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $206.59 on Wednesday. Nexstar Media Group has a fifty-two week low of $153.17 and a fifty-two week high of $254.30. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $6.37 billion, a P/E ratio of 18.80 and a beta of 0.97. The company’s 50 day moving average price is $168.65 and its two-hundred day moving average price is $191.63.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 5th. The company reported $7.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.08 by ($0.16). Nexstar Media Group had a return on equity of 32.25% and a net margin of 5.48%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company posted $2.14 earnings per share. The firm’s quarterly revenue was up 78.0% on a year-over-year basis. On average, equities analysts forecast that Nexstar Media Group will post 32.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research reports. Citigroup upped their target price on Nexstar Media Group from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Zacks Research lowered shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Wells Fargo & Company lifted their target price on shares of Nexstar Media Group from $249.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $257.50.

About Nexstar Media Group

Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities. The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.