Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) PT at $199.71

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $199.71.

NXST has been the topic of several research analyst reports. 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. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark dropped their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Guggenheim dropped their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, August 9th.

Nexstar Media Group Trading Up 2.7 %

Shares of NASDAQ:NXST traded up $4.86 during midday trading on Thursday, hitting $188.11. The company had a trading volume of 381,332 shares, compared to its average volume of 323,121. Nexstar Media Group has a 12 month low of $140.92 and a 12 month high of $191.86. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.20 and a beta of 1.48. The firm has a fifty day simple moving average of $168.24 and a 200 day simple moving average of $166.75.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group's dividend payout ratio is 53.14%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now owns 10,684 shares of the company's stock, valued at $1,715,957.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Andrew Alford sold 3,175 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Compton sold 3,930 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now owns 10,684 shares of the company's stock, valued at $1,715,957.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock valued at $6,887,029 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CX Institutional grew its holdings in Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company's stock worth $231,000 after purchasing an additional 67 shares during the period. Granite Group Advisors LLC boosted its holdings in shares of Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company's stock worth $257,000 after acquiring an additional 72 shares during the period. Blue Trust Inc. boosted its holdings in shares of Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock worth $181,000 after acquiring an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company's stock worth $2,308,000 after acquiring an additional 87 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company's stock valued at $700,000 after buying an additional 96 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

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.