Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of “Buy” by Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $199.71.

Several equities research analysts have weighed in on NXST shares. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Benchmark reduced their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 14th.

Nexstar Media Group Stock Up 6.0 %

Shares of Nexstar Media Group stock opened at $183.25 on Thursday. The business has a 50-day moving average price of $168.24 and a 200 day moving average price of $166.75. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $187.27. The firm has a market cap of $5.91 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.20 and a beta of 1.48. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.69%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 53.14%.

Insider Buying and Selling

In other news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the transaction, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at $1,277,906.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 in the last three months. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Evergreen Wealth Management LLC purchased a new position in Nexstar Media Group during the 3rd quarter valued at about $2,635,000. Natixis Advisors LLC boosted its holdings in shares of Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after purchasing an additional 117 shares during the period. Zions Bancorporation N.A. grew its position in Nexstar Media Group by 18.5% during the third quarter. Zions Bancorporation N.A. now owns 12,226 shares of the company’s stock valued at $2,022,000 after purchasing an additional 1,905 shares in the last quarter. MQS Management LLC acquired a new position in Nexstar Media Group in the 3rd quarter valued at approximately $359,000. Finally, Victory Capital Management Inc. increased its stake in Nexstar Media Group by 41.9% in the 3rd quarter. Victory Capital Management Inc. now owns 20,571 shares of the company’s stock valued at $3,401,000 after buying an additional 6,071 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

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.