Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $203.67 Average PT from Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $203.67.

Several brokerages have weighed in on NXST. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Benchmark reissued a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Thursday, June 20th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, July 23rd.

Nexstar Media Group Stock Performance

NXST stock opened at $176.87 on Tuesday. The firm has a market cap of $5.83 billion, a PE ratio of 14.96, a P/E/G ratio of 0.65 and a beta of 1.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The business has a 50 day moving average of $166.01 and a 200-day moving average of $166.80. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $2.97 earnings per share. Nexstar Media Group’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Nexstar Media Group will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.82%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the sale, the chief financial officer now owns 5,462 shares in the company, valued at $873,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the transaction, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Weitman sold 432 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,329.76. Following the transaction, the insider now directly owns 10,902 shares in the company, valued at $1,825,321.86. The disclosure for this sale can be found here. Insiders have sold 6,826 shares of company stock worth $1,080,597 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NXST. SG Americas Securities LLC grew its stake in shares of Nexstar Media Group by 16.3% during the fourth quarter. SG Americas Securities LLC now owns 4,836 shares of the company’s stock valued at $758,000 after buying an additional 679 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Nexstar Media Group by 1.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,485 shares of the company’s stock worth $1,957,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Nexstar Media Group by 21.1% in the fourth quarter. Blue Trust Inc. now owns 906 shares of the company’s stock worth $130,000 after purchasing an additional 158 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock worth $176,000 after purchasing an additional 81 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Nexstar Media Group in the fourth quarter worth about $521,000. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.