Nexstar Media Group (NASDAQ:NXST) PT Lowered to $167.00

Nexstar Media Group (NASDAQ:NXST) had its price objective cut by Wells Fargo & Company from $175.00 to $167.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on NXST. Rosenblatt Securities reaffirmed a buy rating and set a $230.00 price objective on shares of Nexstar Media Group in a research note on Friday, September 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $210.00 to $205.00 and set a buy rating for the company in a research note on Tuesday, August 15th. Barrington Research reaffirmed an outperform rating and set a $235.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 8th. Finally, StockNews.com assumed coverage on shares of Nexstar Media Group in a research note on Thursday, October 5th. They set a hold rating for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $214.50.

Nexstar Media Group Stock Up 1.5 %

NXST stock opened at $146.34 on Thursday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.53. The firm has a 50-day simple moving average of $142.55 and a 200-day simple moving average of $157.94. The company has a quick ratio of 1.88, a current ratio of 1.57 and a debt-to-equity ratio of 2.87. Nexstar Media Group has a 52 week low of $132.30 and a 52 week high of $217.76.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, November 8th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.83). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Nexstar Media Group had a return on equity of 20.92% and a net margin of 8.51%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.30 EPS. Equities analysts forecast that Nexstar Media Group will post 11.43 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Friday, November 10th will be paid a $1.35 dividend. The ex-dividend date is Thursday, November 9th. This represents a $5.40 annualized dividend and a dividend yield of 3.69%. Nexstar Media Group’s dividend payout ratio (DPR) is 46.51%.

Insider Activity

In other news, insider Thomas Carter sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $165.50, for a total value of $827,500.00. Following the completion of the sale, the insider now owns 76,920 shares of the company’s stock, valued at approximately $12,730,260. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Thomas Carter sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $165.50, for a total value of $827,500.00. Following the transaction, the insider now directly owns 76,920 shares in the company, valued at approximately $12,730,260. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 910 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $160.03, for a total transaction of $145,627.30. Following the completion of the transaction, the chief financial officer now owns 4,476 shares in the company, valued at $716,294.28. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its holdings in Nexstar Media Group by 5.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $1,749,000 after buying an additional 500 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Nexstar Media Group during the 2nd quarter worth approximately $90,000. Illinois Municipal Retirement Fund lifted its holdings in Nexstar Media Group by 5.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,281 shares of the company’s stock worth $4,020,000 after buying an additional 1,305 shares in the last quarter. Kendall Capital Management lifted its holdings in Nexstar Media Group by 5.0% during the 1st quarter. Kendall Capital Management now owns 8,944 shares of the company’s stock worth $1,544,000 after buying an additional 425 shares in the last quarter. Finally, TFB Advisors LLC lifted its holdings in Nexstar Media Group by 13.7% during the 2nd quarter. TFB Advisors LLC now owns 1,750 shares of the company’s stock worth $291,000 after buying an additional 211 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.