Nexstar Media Group (NASDAQ:NXST) Price Target Lowered to $250.00 at Benchmark

Nexstar Media Group (NASDAQ:NXST) had its price target cut by Benchmark from $300.00 to $250.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Citigroup increased 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, March 2nd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.67.

Nexstar Media Group Stock Up 3.1%

Nexstar Media Group stock opened at $186.03 on Monday. The firm has a market capitalization of $5.64 billion, a PE ratio of 63.28, a P/E/G ratio of 0.71 and a beta of 0.93. 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 fifty-two week low of $141.66 and a fifty-two week high of $254.30. The company’s 50-day moving average is $225.10 and its 200-day moving average is $208.09.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $1.86 per share. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio is 253.06%.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in Nexstar Media Group by 43.3% in the third 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 period. Momentum Wealth Planning LLC bought a new position in shares of Nexstar Media Group during the second quarter valued at about $2,798,000. Massachusetts Financial Services Co. MA lifted its position 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 purchasing an additional 75,228 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 purchasing an additional 188,695 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Nexstar Media Group by 160.3% in the third quarter. Nisa Investment Advisors LLC now owns 12,131 shares of the company’s stock worth $2,399,000 after acquiring an additional 7,470 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.