Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $208.43 Average PT from Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST) has earned an average rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $208.43.

NXST has been the topic of a number of recent analyst reports. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Guggenheim raised their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th.

Nexstar Media Group Trading Down 1.9 %

Shares of Nexstar Media Group stock opened at $147.79 on Friday. The firm’s 50 day moving average is $163.56 and its 200 day moving average is $164.47. The firm has a market capitalization of $4.51 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. Nexstar Media Group has a 1 year low of $145.79 and a 1 year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 5.03%. Nexstar Media Group’s payout ratio is 34.56%.

Insider Buying and Selling at Nexstar Media Group

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

Institutional Trading of Nexstar Media Group

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group during the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the third quarter valued at approximately $33,000. Versant Capital Management Inc grew its holdings in Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock valued at $76,000 after purchasing an additional 404 shares during the period. Jones Financial Companies Lllp increased its position in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company’s stock valued at $104,000 after buying an additional 330 shares during the period. Hedge funds and other 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.