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

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $201.67.

A number of analysts have issued reports on NXST shares. Wells Fargo & Company decreased their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th.

Nexstar Media Group Stock Performance

Shares of NXST opened at $169.02 on Wednesday. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.27. The company’s 50 day simple moving average is $170.04 and its 200 day simple moving average is $165.64. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.64 EPS. On average, sell-side analysts predict that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.00%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now owns 7,975 shares in the company, valued at $1,276,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 7,975 shares of the company’s stock, valued at $1,276,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. The disclosure for this sale can be found here. In the last three months, insiders sold 17,644 shares of company stock worth $2,936,760. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Whittier Trust Co. purchased a new stake in Nexstar Media Group during the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its stake in shares of Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after buying an additional 177 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

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.