Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Rating of “Buy” from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $201.14.

Several brokerages have recently issued reports on NXST. Deutsche Bank Aktiengesellschaft decreased their price objective on 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. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th.

Nexstar Media Group Stock Up 2.0 %

Nexstar Media Group stock opened at $169.67 on Friday. The company has a market capitalization of $5.59 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group has a fifty-two week low of $133.55 and a fifty-two week high of $187.27. The firm has a 50 day moving average price of $165.53 and a 200 day moving average price of $165.84.

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 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 business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $2.64 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Nexstar Media Group will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insider Activity

In other news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on Friday, August 16th. The stock was 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 directly owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. purchased a new position in Nexstar Media Group during the second quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the last quarter. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the period. Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group during the second quarter worth approximately $49,000. Finally, Quarry LP increased its position in Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other 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.