Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $204.29 Average Price Target from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $204.29.

NXST has been the topic of several recent analyst reports. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th.

Nexstar Media Group Trading Down 0.2 %

Shares of NASDAQ:NXST opened at $157.42 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 0.26 and a beta of 1.45. Nexstar Media Group has a 1-year low of $147.25 and a 1-year high of $191.86. The company has a 50 day moving average price of $161.70 and a 200 day moving average price of $166.81.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. On average, research analysts anticipate that Nexstar Media Group will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.29%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the sale, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,448 shares of company stock valued at $23,828,076. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Nexstar Media Group by 67.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after buying an additional 10,603 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $3,758,000. Charles Schwab Investment Management Inc. increased its stake in shares of Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after purchasing an additional 7,117 shares during the period. Quest Partners LLC lifted its position in shares of Nexstar Media Group by 661.4% during the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after purchasing an additional 7,533 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in Nexstar Media Group by 680.9% during the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock valued at $2,847,000 after purchasing an additional 15,014 shares during the period. Institutional investors own 95.30% of the company’s stock.

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.