Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on May 15th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Thursday, April 30th. Investors of record on Friday, May 15th will be given a dividend of 1.86 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, May 15th.

Nexstar Media Group has increased its dividend payment 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. Analysts expect Nexstar Media Group to earn $17.77 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 41.9%.

Nexstar Media Group Stock Down 2.7%

Shares of Nexstar Media Group stock opened at $197.30 on Wednesday. Nexstar Media Group has a 12-month low of $164.00 and a 12-month high of $254.30. The stock has a market capitalization of $6.03 billion, a P/E ratio of 42.34, a PEG ratio of 0.80 and a beta of 0.97. The company has a quick ratio of 2.07, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a 50 day moving average price of $210.97 and a two-hundred day moving average price of $208.10.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Guggenheim raised their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Benchmark decreased their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $252.00 to $220.00 in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.67.

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.