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

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Friday, May 1st. Stockholders of record on Friday, May 15th will be given a dividend of 1.86 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, May 15th.

Nexstar Media Group has increased its dividend by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 12 years. Nexstar Media Group has a payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nexstar Media Group to earn $17.77 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 41.9%.

Nexstar Media Group Trading Down 2.8%

Shares of Nexstar Media Group stock traded down $5.77 during trading hours on Friday, reaching $202.37. The stock had a trading volume of 263,687 shares, compared to its average volume of 392,362. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 68.83, a P/E/G ratio of 0.80 and a beta of 0.93. Nexstar Media Group has a 1 year low of $146.06 and a 1 year high of $254.30. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm has a 50 day simple moving average of $215.57 and a two-hundred day simple moving average of $207.69.

Wall Street Analyst Weigh In

NXST has been the topic of several research reports. Guggenheim raised their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Benchmark decreased their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.33.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.