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

Key Points

• Nexstar declared a quarterly dividend of $1.86 per share, payable November 27 to shareholders of record November 13. That equals $7.44 annualized and a 3.6% yield.
• The dividend has been raised for 12 consecutive years and appears covered: the current payout ratio is 28.3%, with an expected ratio of 40.9% based on next year’s forecast earnings.
• Quarterly revenue rose 78% year over year to $2.13 billion, topping estimates, while earnings of $7.92 per share fell short of the $8.08 consensus.

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

Nexstar Media Group has increased its dividend 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. Equities 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 Up 2.7%

Shares of Nexstar Media Group stock opened at $206.59 on Wednesday. The firm has a market cap of $6.37 billion, a PE ratio of 18.80 and a beta of 0.97. The business's 50 day simple moving average is $168.65 and its 200 day simple moving average is $191.63. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.26 and a current ratio of 1.26. Nexstar Media Group has a 52-week low of $153.17 and a 52-week high of $254.30.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $7.92 earnings per share for the quarter, missing the consensus estimate of $8.08 by ($0.16). The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.07 billion. Nexstar Media Group had a return on equity of 32.25% and a net margin of 5.48%. Nexstar Media Group's revenue was up 78.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 earnings per share. On average, analysts predict that Nexstar Media Group will post 32.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

NXST has been the topic of several analyst reports. Zacks Research cut shares of Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Wall Street Zen raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings upgraded Nexstar Media Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, Citigroup boosted their price target on Nexstar Media Group from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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