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

Nexstar Media Group, Inc. (NASDAQ:NXST) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, August 14th will be paid a dividend of 1.86 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a 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 research 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 Trading Down 1.0%

NXST traded down $1.75 during trading on Wednesday, hitting $182.81. 13,652 shares of the company’s stock were exchanged, compared to its average volume of 390,731. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group has a 1 year low of $154.47 and a 1 year high of $254.30. The stock has a 50 day moving average price of $179.52 and a 200 day moving average price of $200.43. The firm has a market cap of $5.63 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.26%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the business posted $3.06 EPS. The business’s revenue was up 62.2% on a year-over-year basis. As a group, 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.