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

Key Points

• Nexstar Media Group declared a quarterly dividend of $1.86 per share, payable August 28 to shareholders of record as of August 14. The dividend implies an annualized payout of $7.44 and a 4.1% yield.
• Nexstar has increased its dividend for 12 consecutive years, with a 28.3% payout ratio indicating earnings currently cover the distribution. Analysts expect the forward payout ratio to rise to approximately 37.6%.
• In its latest quarter, the company reported $3.61 in EPS, below the $5.98 consensus estimate, while revenue of $1.99 billion exceeded estimates and grew 62.2% year over year.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, August 14th will be given a dividend of 1.86 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date 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 increased 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 $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 Price Performance

Shares of NXST stock traded down $1.75 during midday trading on Wednesday, reaching $182.81. 13,652 shares of the company traded hands, compared to its average volume of 390,731. The firm's 50 day simple moving average is $179.52 and its two-hundred day simple moving average is $200.43. The firm has a market cap of $5.63 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group has a 1-year low of $154.47 and a 1-year high of $254.30.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing analysts' consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.26% and a net margin of 3.20%.The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The business's revenue was up 62.2% on a year-over-year basis. On average, equities research analysts expect that Nexstar Media Group will post 37.46 EPS for the current fiscal 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.

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