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

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) has been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $206.00.

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

Read Our Latest Analysis on Nexstar Media Group

Nexstar Media Group Trading Down 0.2 %

Shares of NASDAQ:NXST opened at $156.47 on Monday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s 50-day moving average price is $164.34 and its 200 day moving average price is $163.41. The company has a market cap of $5.14 billion, a PE ratio of 13.24, a P/E/G ratio of 0.57 and a beta of 1.48. Nexstar Media Group has a fifty-two week low of $132.30 and a fifty-two week high of $187.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $2.97 earnings per share. Nexstar Media Group’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Nexstar Media Group will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.32%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insider Activity

In other news, CFO Lee Ann Gliha sold 326 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Gary Weitman sold 528 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $84,480.00. Following the completion of the transaction, the insider now owns 11,687 shares of the company’s stock, valued at approximately $1,869,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at approximately $873,920. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,009 shares of company stock worth $2,166,731. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. HighTower Advisors LLC raised its holdings in shares of Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock worth $27,322,000 after acquiring an additional 5,389 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Nexstar Media Group by 3.4% in the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock worth $81,442,000 after buying an additional 16,928 shares during the last quarter. American Century Companies Inc. raised its position in Nexstar Media Group by 519.6% during the third quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock valued at $7,406,000 after acquiring an additional 43,322 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Nexstar Media Group by 72.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after acquiring an additional 5,121 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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