Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Rating of "Buy" by Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) has been given a consensus rating of "Buy" by the seven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $203.67.

Several research analysts have issued reports on the company. Wells Fargo & Company upgraded Nexstar Media Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Loop Capital upgraded shares of Nexstar Media Group to a "strong-buy" rating in a research report on Friday, May 10th. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, May 9th. Benchmark reaffirmed a "buy" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Thursday, June 20th. Finally, Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th.

Nexstar Media Group Stock Up 0.0 %

Shares of Nexstar Media Group stock traded up $0.08 during trading hours on Friday, reaching $167.55. 448,399 shares of the company's stock were exchanged, compared to its average volume of 355,454. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company has a 50 day moving average of $161.98 and a two-hundred day moving average of $164.69. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The stock has a market cap of $5.52 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.61 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share 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 firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the firm earned $2.97 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Nexstar Media Group will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $1.69 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.03%. Nexstar Media Group's payout ratio is 57.19%.

Insiders Place Their Bets

In related news, EVP Blake Russell sold 433 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares of the company's stock, valued at $4,275,659.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Lee Ann Gliha sold 326 shares of the company's stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,826 shares of company stock valued at $1,080,597. Company insiders own 5.90% of the company's stock.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company's stock valued at $32,000 after buying an additional 177 shares in the last quarter. First United Bank & Trust acquired a new position in Nexstar Media Group in the fourth quarter worth approximately $33,000. SRS Capital Advisors Inc. lifted its stake in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company's stock valued at $37,000 after buying an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in Nexstar Media Group during the 4th quarter valued at about $45,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company's stock worth $46,000 after acquiring an additional 86 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other 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.