Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $225.50.

Several equities research analysts recently issued reports on the company. Citigroup dropped their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th.

Nexstar Media Group Stock Up 0.9%

Shares of NASDAQ:NXST opened at $232.77 on Wednesday. The firm has a fifty day moving average price of $215.33 and a two-hundred day moving average price of $204.01. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.90 and a beta of 0.85. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. Nexstar Media Group has a one year low of $141.66 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Nexstar Media Group’s payout ratio is currently 46.13%.

Institutional Trading of Nexstar Media Group

Hedge funds have recently made changes to their positions in the stock. Compound Planning Inc. purchased a new position in Nexstar Media Group in the fourth quarter worth $252,000. Corient Private Wealth LLC boosted its holdings in shares of Nexstar Media Group by 1,595.7% in the 4th quarter. Corient Private Wealth LLC now owns 114,813 shares of the company’s stock worth $23,313,000 after purchasing an additional 108,042 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Nexstar Media Group by 27.8% in the 4th quarter. Vident Advisory LLC now owns 12,529 shares of the company’s stock worth $2,544,000 after purchasing an additional 2,729 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $384,000. Finally, SummitTX Capital L.P. increased its position in shares of Nexstar Media Group by 26.1% during the 4th quarter. SummitTX Capital L.P. now owns 2,419 shares of the company’s stock valued at $491,000 after purchasing an additional 501 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.