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

Shares of Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) have been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $207.33.

Several analysts have recently weighed in on NXST shares. Rosenblatt Securities started coverage on Nexstar Media Group in a research report on Tuesday, April 19th. They set a “neutral” rating and a $180.00 target price for the company. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. Zacks Investment Research raised shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nexstar Media Group from $187.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. Finally, Benchmark raised their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd.

Shares of NASDAQ:NXST opened at $158.41 on Monday. Nexstar Media Group has a 1 year low of $135.87 and a 1 year high of $192.84. The company’s 50 day simple moving average is $177.37. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.64 and a beta of 1.54. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 2.58.

Nexstar Media Group (NASDAQ:NXSTGet Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported $6.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $1.32. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 31.18% and a net margin of 17.95%. Nexstar Media Group’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period last year, the company earned $7.97 EPS. Analysts expect that Nexstar Media Group will post 24.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a $0.90 dividend. The ex-dividend date is Thursday, May 12th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.27%. Nexstar Media Group’s dividend payout ratio is presently 18.93%.

In other news, Director John R. Muse sold 10,775 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $186.92, for a total value of $2,014,063.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas Carter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $185.48, for a total value of $927,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,919 shares of company stock valued at $7,075,467. Corporate insiders own 6.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in NXST. Norges Bank acquired a new stake in Nexstar Media Group during the 4th quarter worth about $71,938,000. Simcoe Capital Management LLC purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $44,073,000. Clark Capital Management Group Inc. increased its holdings in Nexstar Media Group by 129.0% in the 3rd quarter. Clark Capital Management Group Inc. now owns 491,534 shares of the company’s stock worth $74,694,000 after buying an additional 276,872 shares during the period. Dimensional Fund Advisors LP increased its holdings in Nexstar Media Group by 15.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,770,568 shares of the company’s stock worth $269,067,000 after buying an additional 233,337 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Nexstar Media Group by 150.5% during the 4th quarter. Glenmede Trust Co. NA now owns 287,862 shares of the company’s stock worth $43,460,000 after buying an additional 172,950 shares during the last quarter. 96.00% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile (Get Rating)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

Further Reading

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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