Nexstar Media Group said on July 27, 2023 that its board of directors declared a regular quarterly dividend of $1.35 per share ($5.40 annualized). Previously, the company paid $1.35 per share.
Shares must be purchased before the ex-div date of August 9, 2023 to qualify for the dividend. Shareholders of record as of August 10, 2023 will receive the payment on August 24, 2023.
At the current share price of $182.41 / share, the stock's dividend yield is 2.96%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.14%, the lowest has been 1.47%, and the highest has been 4.84%. The standard deviation of yields is 0.54 (n=235).
The current dividend yield is 1.54 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.41%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1012 funds or institutions reporting positions in Nexstar Media Group. This is a decrease of 35 owner(s) or 3.34% in the last quarter. Average portfolio weight of all funds dedicated to NXST is 0.33%, a decrease of 1.13%. Total shares owned by institutions decreased in the last three months by 4.17% to 42,897K shares. 
The put/call ratio of NXST is 0.64, indicating a bullish outlook.
Analyst Price Forecast Suggests 22.46% Upside
As of July 6, 2023, the average one-year price target for Nexstar Media Group is 223.38. The forecasts range from a low of 176.75 to a high of $246.75. The average price target represents an increase of 22.46% from its latest reported closing price of 182.41.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nexstar Media Group is 5,317MM, an increase of 1.12%. The projected annual non-GAAP EPS is 18.17.
What are Other Shareholders Doing?
Boston Partners holds 1,673K shares representing 4.67% ownership of the company. In it's prior filing, the firm reported owning 1,833K shares, representing a decrease of 9.55%. The firm decreased its portfolio allocation in NXST by 64.64% over the last quarter.
Neuberger Berman Group holds 1,663K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 1,693K shares, representing a decrease of 1.80%. The firm decreased its portfolio allocation in NXST by 53.19% over the last quarter.
Lsv Asset Management holds 1,312K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 1,309K shares, representing an increase of 0.21%. The firm increased its portfolio allocation in NXST by 0.54% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,163K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 1,164K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in NXST by 5.68% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,110K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 1,088K shares, representing an increase of 2.03%. The firm decreased its portfolio allocation in NXST by 7.03% over the last quarter.
Nexstar Media Group Background Information
(This description is provided by the company.)
Nexstar Media Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Its wholly owned operating subsidiary, Nexstar Inc., consists of three divisions: Broadcasting, Digital, and Networks. The Broadcasting Division operates, programs, or provides sales and other services to 198 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the FCC's UHF discount). The division's portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 122 local websites and 316 mobile apps offering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when and how they access content and creating new revenue opportunities for the company. The Networks Division operates NewsNation, formerly WGN America, a national news and entertainment cable network reaching 75 million television homes, multicast network Antenna TV, and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top tier cable asset.
Additional reading:
- NEXSTAR MEDIA GROUP DECLARES QUARTERLY CASH DIVIDEND OF $1.35 PER SHARE
- EXECUTIVE EMPLOYMENT AGREEMENT
- NEXSTAR NAMES MEDIA INDUSTRY EXECUTIVE MICHAEL BIARD AS PRESIDENT AND CHIEF OPERATING OFFICER Former Fox Corporation Television Distribution and Operations Leader Will Assume New Role on August 21, 2023 Thomas Carter to Continue as Senior Advisor Thr
- NEXSTAR MEDIA GROUP APPOINTS TONY WELLS TO BOARD OF DIRECTORS Former Chief Media Officer at Verizon and Chief Brand Officer at USAA Brings Extensive National and Local Advertising and Strategic Marketing Expertise to Board
- EXECUTIVE EMPLOYMENT AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
