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

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be paid a dividend of 1.86 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th.

Nexstar Media Group has raised its dividend by an average of 0.3%per year 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nexstar Media Group to earn $19.77 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 37.6%.

Nexstar Media Group Stock Down 0.4%

Shares of Nexstar Media Group stock traded down $0.82 on Wednesday, reaching $183.74. The company’s stock had a trading volume of 16,865 shares, compared to its average volume of 390,731. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 0.51 and a beta of 0.91. The firm’s fifty day simple moving average is $179.52 and its two-hundred day simple moving average is $200.43. Nexstar Media Group has a 52 week low of $154.47 and a 52 week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Nexstar Media Group had a return on equity of 24.26% and a net margin of 3.20%.The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.06 EPS. Equities analysts anticipate that Nexstar Media Group will post 37.46 earnings per share for the current year.

About Nexstar Media Group

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.