Nexstar Media Group Inc (NASDAQ:NXST) declared a quarterly dividend on Friday, April 21st. Stockholders of record on Friday, May 12th will be given a dividend of 0.30 per share on Friday, May 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, May 10th.
Nexstar Media Group (NASDAQ:NXST) traded up 0.44% on Friday, hitting $69.10. The stock had a trading volume of 537,809 shares. Nexstar Media Group has a 12 month low of $44.75 and a 12 month high of $73.90. The stock has a market cap of $3.26 billion, a PE ratio of 23.91 and a beta of 2.22. The firm’s 50 day moving average price is $69.24 and its 200-day moving average price is $62.66.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.10. The business earned $309.88 million during the quarter, compared to the consensus estimate of $318.53 million. Nexstar Media Group had a net margin of 9.39% and a return on equity of 64.45%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, analysts forecast that Nexstar Media Group will post $3.62 EPS for the current year.
Several equities analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of Nexstar Media Group in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $83.00 price target for the company. Jefferies Group LLC restated a “buy” rating and issued a $80.00 price target (up previously from $60.00) on shares of Nexstar Media Group in a research note on Friday, March 3rd. Benchmark Co. restated a “buy” rating and issued a $89.00 price target (up previously from $70.00) on shares of Nexstar Media Group in a research note on Wednesday, March 1st. Wedbush boosted their price target on shares of Nexstar Media Group from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Finally, Zacks Investment Research downgraded shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 21st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $74.56.
In other news, EVP Elizabeth Ryder sold 1,000 shares of Nexstar Media Group stock in a transaction on Friday, March 24th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the executive vice president now directly owns 3,210 shares of the company’s stock, valued at approximately $224,700. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 10,833 shares of Nexstar Media Group stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $70.64, for a total transaction of $765,243.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,349 shares of company stock valued at $1,944,794. Corporate insiders own 7.80% of the company’s stock.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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