Nexstar Media Group (NASDAQ:NXST) Price Target Increased to $230.00 by Analysts at Rosenblatt Securities

Nexstar Media Group (NASDAQ:NXST) had its price target raised by Rosenblatt Securities from $228.00 to $230.00 in a research report report published on Tuesday, MarketBeat.com reports. Rosenblatt Securities currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim raised their target price on shares of Nexstar Media Group from $216.00 to $220.00 in a research report on Thursday, June 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $210.00 to $205.00 and set a buy rating on the stock in a report on Tuesday, August 15th. StockNews.com initiated coverage on shares of Nexstar Media Group in a research report on Thursday, August 17th. They issued a hold rating for the company. Finally, Barrington Research restated an outperform rating and set a $235.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $215.83.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $140.23 on Tuesday. The stock has a market cap of $4.92 billion, a PE ratio of 7.70, a P/E/G ratio of 1.55 and a beta of 1.50. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.64. Nexstar Media Group has a 52 week low of $140.00 and a 52 week high of $217.76. The business’s 50-day simple moving average is $169.09 and its two-hundred day simple moving average is $168.69.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.24). The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Nexstar Media Group had a return on equity of 29.41% and a net margin of 13.31%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.56 earnings per share. As a group, analysts forecast that Nexstar Media Group will post 11.77 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, August 9th. Nexstar Media Group’s payout ratio is currently 29.65%.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Blake Russell sold 3,697 shares of Nexstar Media Group stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $163.07, for a total value of $602,869.79. Following the completion of the transaction, the executive vice president now owns 30,897 shares in the company, valued at $5,038,373.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Blake Russell sold 3,697 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $163.07, for a total value of $602,869.79. Following the completion of the transaction, the executive vice president now directly owns 30,897 shares of the company’s stock, valued at $5,038,373.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Carter sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $165.50, for a total transaction of $827,500.00. Following the completion of the transaction, the insider now owns 76,920 shares of the company’s stock, valued at approximately $12,730,260. The disclosure for this sale can be found here. Insiders sold a total of 13,044 shares of company stock worth $2,140,900 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently made changes to their positions in NXST. Western Wealth Management LLC lifted its position in Nexstar Media Group by 14.8% in the second quarter. Western Wealth Management LLC now owns 4,354 shares of the company’s stock valued at $725,000 after purchasing an additional 560 shares during the period. Delphi Management Inc. MA acquired a new position in Nexstar Media Group in the second quarter valued at $1,346,000. Virginia Retirement Systems ET AL acquired a new position in Nexstar Media Group during the second quarter worth approximately $1,882,000. Comerica Bank acquired a new stake in Nexstar Media Group during the second quarter worth about $154,760,000. Finally, Osaic Holdings Inc. increased its position in shares of Nexstar Media Group by 8.6% in the second quarter. Osaic Holdings Inc. now owns 29,994 shares of the company’s stock worth $5,002,000 after acquiring an additional 2,386 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.