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

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) have earned a consensus recommendation of "Buy" from the seven research firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $208.43.

Several analysts recently weighed in on NXST shares. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. Benchmark increased their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd.

Remove Ads

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the transaction, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock valued at $6,722,463 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group in the third quarter worth approximately $33,000. Whipplewood Advisors LLC raised its holdings in shares of Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after acquiring an additional 274 shares during the period. Versant Capital Management Inc lifted its position in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after acquiring an additional 404 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock traded down $6.42 on Friday, reaching $152.98. 842,447 shares of the company were exchanged, compared to its average volume of 367,132. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 8.85, a P/E/G ratio of 0.45 and a beta of 1.09. Nexstar Media Group has a 1-year low of $143.32 and a 1-year high of $191.86. 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 company's 50-day moving average is $163.75 and its two-hundred day moving average is $164.29.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Wednesday, February 12th. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is currently 34.56%.

About Nexstar Media Group

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.