Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $206.00 Average PT from Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research 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 1 year price target among brokers that have issued ratings on the stock in the last year is $206.00.

Several analysts have commented on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Rosenblatt Securities lowered 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 report on Wednesday, March 13th. Benchmark reiterated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Friday, May 10th. Finally, TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st.

Nexstar Media Group Stock Down 0.5 %

NASDAQ NXST opened at $161.42 on Thursday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $5.30 billion, a PE ratio of 13.66, a PEG ratio of 0.61 and a beta of 1.50. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.32. The business’s 50-day moving average is $166.23 and its 200 day moving average is $162.52.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the business posted $2.97 earnings per share. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Nexstar Media Group will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insiders Place Their Bets

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now owns 12,027 shares in the company, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,373 shares of company stock valued at $7,632,777. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust purchased a new stake in Nexstar Media Group in the 4th quarter worth $33,000. SRS Capital Advisors Inc. raised its position in shares of Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after buying an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $45,000. Finally, Quadrant Capital Group LLC raised 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 valued at $46,000 after buying an additional 86 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.