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

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $278.6667.

Several research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Benchmark lifted their target price on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in Nexstar Media Group by 43.3% in the 3rd quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock worth $85,209,000 after purchasing an additional 130,283 shares during the last quarter. Momentum Wealth Planning LLC acquired a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $2,798,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock valued at $127,070,000 after buying an additional 75,228 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Nexstar Media Group by 63.0% during the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after buying an additional 188,695 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Nexstar Media Group by 160.3% during the third quarter. Nisa Investment Advisors LLC now owns 12,131 shares of the company’s stock worth $2,399,000 after buying an additional 7,470 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $226.81 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. Nexstar Media Group has a 12 month low of $141.66 and a 12 month high of $254.30. The company has a fifty day moving average price of $228.18 and a two-hundred day moving average price of $208.51. The company has a market cap of $6.88 billion, a PE ratio of 77.15, a P/E/G ratio of 0.90 and a beta of 0.79.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is presently 253.06%.

Trending Headlines about Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: Regulatory approvals and close — Nexstar announced the closing of its acquisition of TEGNA after FCC and DOJ approval, creating the largest U.S. broadcast station group and supporting revenue/scale synergies. Nexstar Closes Acquisition
• Neutral Sentiment: Debt financing to fund the deal — Nexstar announced offerings of $3.39B in senior secured notes due 2033 and $1.725B in senior notes due 2034 (aggregate > $5B), giving the company liquidity to execute the combination but materially increasing near-term leverage. Debt Offering Announcement
• Negative Sentiment: State lawsuits and requests to block integration — eight state attorneys general have sued to block the merger and asked a judge for a temporary restraining order to halt integration, creating legal and operational uncertainty that could delay or alter expected synergies. States Ask Judge to Block Merger
• Negative Sentiment: Market/valuation scrutiny — analysts and commentators note Nexstar’s shares are no longer as cheap after the deal and the enlarged company now carries greater execution and balance-sheet risk; this may temper near-term upside. Seeking Alpha Valuation Piece

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.