Barrington Research Reaffirms Outperform Rating for Nexstar Media Group (NASDAQ:NXST)

Barrington Research reissued their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a report published on Thursday, Benzinga reports. Barrington Research currently has a $200.00 price objective on the stock.

NXST has been the subject of a number of other reports. Rosenblatt Securities reduced their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a buy rating for the company in a research note on Wednesday, March 13th. TheStreet upgraded shares of Nexstar Media Group from a c+ rating to a b- rating in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of Moderate Buy and an average target price of $198.29.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $172.30 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.32. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.64 and a beta of 1.50. The stock has a 50-day moving average price of $165.07 and a 200 day moving average price of $160.96.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.07% and a net margin of 8.29%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $2.97 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Research analysts expect that Nexstar Media Group will post 26.73 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $1.69 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 3.92%. Nexstar Media Group’s dividend payout ratio is 57.19%.

Insider Activity at Nexstar Media Group

In related news, insider Sean Compton sold 3,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the sale, the insider now directly owns 9,489 shares in the company, valued at approximately $1,543,006.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nexstar Media Group news, insider Sean Compton sold 3,000 shares of Nexstar Media Group stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the transaction, the insider now owns 9,489 shares in the company, valued at $1,543,006.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the transaction, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,508 shares of company stock worth $7,487,950. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in NXST. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 177 shares during the period. First United Bank & Trust acquired a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. grew its holdings in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora acquired a new stake in Nexstar Media Group during the fourth quarter worth approximately $45,000. Finally, Quadrant Capital Group LLC grew its position in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares during the period. 95.30% of the stock is owned by institutional investors.

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.