Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Target Price at $201.14

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $199.71.

NXST has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Guggenheim reduced their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Benchmark lowered their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

Nexstar Media Group Stock Up 0.7 %

Shares of NASDAQ NXST opened at $173.47 on Friday. Nexstar Media Group has a 1 year low of $133.55 and a 1 year high of $187.27. The firm has a 50-day simple moving average of $165.92 and a two-hundred day simple moving average of $165.85. The company has a market cap of $5.60 billion, a P/E ratio of 13.64, a PEG ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $2.64 earnings per share. Nexstar Media Group’s revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Nexstar Media Group will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 53.14%.

Insider Buying and Selling

In other news, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares of the company’s stock, valued at $9,324,487.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 in the last three months. 6.30% of the stock is owned by insiders.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Nexstar Media Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Nexstar Media Group during the 1st quarter valued at about $92,323,000. Bank of New York Mellon Corp lifted its holdings in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after buying an additional 2,145 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Nexstar Media Group by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock worth $43,688,000 after buying an additional 7,514 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.