Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on November 12th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Tuesday, October 28th. Stockholders of record on Wednesday, November 12th will be given a dividend of 1.86 per share on Wednesday, November 26th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, November 12th.

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 dividend 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

NXST stock opened at $190.65 on Monday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The company has a 50 day moving average price of $198.72 and a 200 day moving average price of $185.71. Nexstar Media Group has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The stock has a market capitalization of $5.78 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.27 earnings per share. Analysts forecast that Nexstar Media Group will post 21.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on NXST shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Benchmark boosted their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

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.