Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on May 9th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Friday, April 26th, Zacks reports. Investors of record on Friday, May 10th will be given a dividend of 1.69 per share on Friday, May 24th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th.

Nexstar Media Group has increased its dividend by an average of 34.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Nexstar Media Group has a payout ratio of 39.6% 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 $6.76 annual dividend with an expected future payout ratio of 37.2%.

Nexstar Media Group Trading Up 1.0 %

Nexstar Media Group stock opened at $168.26 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group has a 52 week low of $132.30 and a 52 week high of $187.32. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 0.62 and a beta of 1.50. The stock has a 50-day moving average price of $164.52 and a 200 day moving average price of $160.23.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $8.04 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Nexstar Media Group will post 26.73 EPS for the current year.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Michael Strober sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the transaction, the executive vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $180,219.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The disclosure for this sale can be found here. Insiders sold a total of 46,508 shares of company stock valued at $7,487,950 in the last three months. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NXST has been the subject of a number of analyst reports. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Rosenblatt Securities decreased their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.83.

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.