Nexstar Media Group’s (NXST) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report released on Monday morning,Benzinga reports. They currently have a $200.00 price objective on the stock.

NXST has been the topic of several other reports. Loop Capital raised shares of 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. Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.43.

Nexstar Media Group Trading Down 0.5 %

Shares of NXST stock opened at $176.94 on Monday. Nexstar Media Group has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The stock’s fifty day moving average price is $156.61 and its two-hundred day moving average price is $163.71. 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 has a market cap of $5.40 billion, a PE ratio of 10.23, a P/E/G ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data 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). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Equities analysts predict that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Insiders Place Their Bets

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,955 shares of company stock valued at $26,240,628. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds have recently bought and sold shares of NXST. Capital Performance Advisors LLP acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $44,000. CWA Asset Management Group LLC acquired a new stake in Nexstar Media Group during the third quarter worth approximately $312,000. Crossmark Global Holdings Inc. increased its holdings in Nexstar Media Group by 24.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,391 shares of the company’s stock worth $396,000 after purchasing an additional 474 shares in the last quarter. Meritage Portfolio Management increased its holdings in Nexstar Media Group by 9.7% in the third quarter. Meritage Portfolio Management now owns 4,603 shares of the company’s stock worth $761,000 after purchasing an additional 406 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Nexstar Media Group by 2,074.2% in the third quarter. Venturi Wealth Management LLC now owns 674 shares of the company’s stock valued at $111,000 after buying an additional 643 shares during the period. 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.