Nexstar Media Group, Inc. (NASDAQ: NXST – Get a rating) announced a quarterly dividend on Friday, April 29, Zacks reports. Shareholders of record on Friday May 13 will receive a dividend of 0.90 per share on Friday May 27. This represents an annualized dividend of $3.60 and a yield of 2.27%. The ex-dividend date is Thursday, May 12.
Nexstar Media Group has increased its dividend payout by an average of 23.1% per year over the past three years and has increased its dividend every year for the past 9 years. Nexstar Media Group has a dividend payout ratio of 16.5%, which means its dividend is sufficiently covered by earnings. Stock analysts expect Nexstar Media Group to earn $20.54 per share next year, meaning the company should continue to be able to cover its annual dividend of $3.60 with a ratio of expected future payout of 17.5%.
Shares of NXST opened at $158.42 on Friday. The company’s fifty-day simple moving average is $178.73 and its two-hundred-day simple moving average is $166.51. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt ratio of 2.58. Nexstar Media Group has a 12-month low of $135.87 and a 12-month high of $192.84. The company has a market capitalization of $6.50 billion, a price/earnings ratio of 8.33, a P/E/G ratio of 0.66 and a beta of 1.51.
Nexstar Media Group (NASDAQ: NXST – Get a rating) last reported results on Tuesday, February 22. The company reported EPS of $6.19 for the quarter, beating the consensus estimate of $4.87 by $1.32. The company posted revenue of $1.25 billion for the quarter, versus a consensus estimate of $1.23 billion. Nexstar Media Group achieved a return on equity of 31.18% and a net margin of 17.95%. The company’s revenue decreased by 9.5% compared to the same quarter last year. During the same period last year, the company posted EPS of $7.97. As a group, research analysts expect Nexstar Media Group to post EPS of 24.58 for the current year.
In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 500 shares of the company in a trade dated Wednesday, March 2. The stock was sold at an average price of $190.00, for a total transaction of $95,000.00. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, COO Thomas Carter sold 5,000 shares of the company in a trade dated Tuesday, March 1. The shares were sold at an average price of $185.48, for a total value of $927,400.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 53,166 shares of the company worth $9,667,457. Insiders hold 6.90% of the shares of the company.
Several institutional investors have recently changed their holdings in NXST. Metropolitan Life Insurance Co NY increased its position in Nexstar Media Group shares by 397.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 910 shares of the company valued at $137,000 after purchasing an additional 727 shares in the last quarter. The Tennessee State Treasury Department increased its position in Nexstar Media Group stock by 235.4% during the fourth quarter. The Tennessee State Treasury Department now owns 3,689 shares of the company valued at $557,000 after purchasing 2,589 additional shares in the last quarter. Advisors Asset Management Inc. increased its position in Nexstar Media Group shares by 4.6% during the fourth quarter. Advisors Asset Management Inc. now owns 11,581 shares of the company valued at $1,748,000 after buying 513 additional shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Nexstar Media Group shares by 1,001.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 13,284 shares of the company valued at $2,006,000 after purchasing an additional 12,078 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its position in Nexstar Media Group shares by 2.3% during the fourth quarter. Vident Investment Advisory LLC now owns 14,563 shares of the company valued at $2,199,000 after purchasing 324 additional shares in the last quarter. Hedge funds and other institutional investors hold 94.46% of the company’s shares.
Several equity analysts have recently weighed in on NXST shares. Zacks Investment Research upgraded Nexstar Media Group from a “sell” to a “hold” rating in a report released Tuesday, March 8. Rosenblatt Securities began covering Nexstar Media Group in a report on Tuesday April 19. They set a “neutral” rating and a price target of $180.00 on the stock. Benchmark raised its price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a Wednesday, February 23 report. Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group from $187.00 to $216.00 and gave the stock a “buy” rating in a Tuesday, March 1, report. To finish, StockNews.com upgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a Tuesday, April 19 report. Three research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Buy” and an average price target of $202.29.
About Nexstar Media Group (Get a rating)
Nexstar Media Group, Inc, a television broadcasting and digital media company, is focused on the acquisition, development and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to viewers.
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