Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $204.29 Consensus Price Target from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $204.29.

Several research firms have commented on NXST. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th.

Insider Transactions at Nexstar Media Group

In other news, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $328,900. This represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the transaction, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. The trade was a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,448 shares of company stock worth $23,828,076. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NXST. BNP Paribas Financial Markets grew its stake in Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock worth $4,339,000 after buying an additional 10,603 shares during the last quarter. SGL Investment Advisors Inc. bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Charles Schwab Investment Management Inc. increased its holdings in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after purchasing an additional 7,117 shares in the last quarter. Quest Partners LLC boosted its stake in Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after purchasing an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Nexstar Media Group by 680.9% during the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after purchasing an additional 15,014 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.1 %

NXST opened at $156.39 on Tuesday. The company has a market capitalization of $4.85 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.25 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group has a fifty-two week low of $147.25 and a fifty-two week high of $191.86. The business has a 50-day moving average of $161.87 and a 200-day moving average of $167.01.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Equities research analysts forecast that Nexstar Media Group will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s payout ratio is currently 39.10%.

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.