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

Key Points

• Nexstar Media Group, Inc. declared a quarterly dividend of $1.86 per share, with investors of record set to receive the payment on August 29th.
• The company has a payout ratio of 28.3%, indicating a strong capacity to cover the dividend with earnings, especially with projected earnings of $13.68 per share next year.
• Nexstar reported $1.23 billion in revenue for the previous quarter, slightly down 3.9% year-over-year, with an earnings per share (EPS) of $3.37 exceeding analyst expectations.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Friday, August 15th will be given a dividend of 1.86 per share on Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.1%.

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 $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 Performance

NASDAQ:NXST opened at $182.45 on Friday. Nexstar Media Group has a 12-month low of $141.66 and a 12-month high of $192.36. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $5.57 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The firm has a 50-day moving average price of $176.60 and a 200 day moving average price of $166.17.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.16 earnings per share. Research analysts anticipate that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

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.

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