Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of “Buy” by Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $203.67.

NXST has been the topic of a number of research reports. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, May 9th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Rosenblatt Securities cut their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Finally, Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Thursday, June 20th.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00. Following the sale, the director now directly owns 6,175 shares in the company, valued at $1,025,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total transaction of $244,968.00. Following the completion of the sale, the director now owns 6,175 shares in the company, valued at approximately $1,025,544. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 522 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the transaction, the insider now owns 12,477 shares in the company, valued at approximately $1,860,071.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings 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 worth $32,000 after acquiring an additional 177 shares during the period. First United Bank & Trust purchased a new position in Nexstar Media Group during the 4th quarter valued at about $33,000. SRS Capital Advisors Inc. increased its position in shares of 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 during the period. OLD Second National Bank of Aurora purchased a new stake in shares of Nexstar Media Group in the fourth quarter worth about $45,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Up 0.5 %

Nexstar Media Group stock opened at $167.47 on Friday. The company has a market capitalization of $5.52 billion, a PE ratio of 14.17, a PEG ratio of 0.60 and a beta of 1.50. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.32. The firm’s fifty day moving average is $161.98 and its 200 day moving average is $164.69. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results 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. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 earnings per share. As a group, sell-side analysts predict that Nexstar Media Group will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $1.69 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.04%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

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.