Nexstar Media Group (NASDAQ:NXST) Receives Outperform Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report released on Tuesday morning,Benzinga reports. They currently have a $290.00 price objective on the stock.

A number of other research firms have also commented on NXST. Citigroup raised their price objective on shares of Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Wells Fargo & Company boosted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $267.43.

Nexstar Media Group Stock Performance

Shares of NXST opened at $243.55 on Tuesday. The firm has a market capitalization of $7.39 billion, a PE ratio of 82.84, a P/E/G ratio of 0.97 and a beta of 0.79. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm has a 50-day moving average price of $219.43 and a 200 day moving average price of $205.39. Nexstar Media Group has a 52-week low of $141.66 and a 52-week high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, February 13th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 253.06%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC grew its holdings in shares of Nexstar Media Group by 1.7% during the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after buying an additional 51 shares in the last quarter. Claret Asset Management Corp grew its stake in Nexstar Media Group by 4.1% during the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock valued at $233,000 after acquiring an additional 53 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after purchasing an additional 56 shares during the period. Truist Financial Corp lifted its position in shares of Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Nexstar Media Group by 0.6% during the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.