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

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $201.67.

A number of research analysts have commented on NXST shares. Wells Fargo & Company reduced their price objective 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. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, 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.

Insider Activity

In related news, EVP Blake Russell sold 2,782 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the sale, the executive vice president now directly owns 22,329 shares in the company, valued at $3,794,143.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now directly owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Blake Russell sold 2,782 shares of Nexstar Media Group stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $169.92, for a total value of $472,717.44. Following the sale, the executive vice president now directly owns 22,329 shares in the company, valued at $3,794,143.68. The disclosure for this sale can be found here. Insiders sold 30,426 shares of company stock worth $5,116,478 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% in the fourth 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. Personal CFO Solutions LLC raised its stake in shares of Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock valued at $481,000 after acquiring an additional 202 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $232,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Nexstar Media Group in the 1st quarter worth approximately $2,111,000. Finally, Vanguard Group Inc. raised its position in Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $166.40 on Wednesday. The company has a market cap of $5.48 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.18 and a beta of 1.49. 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 has a 52 week low of $132.30 and a 52 week high of $187.27. The business has a fifty day simple moving average of $169.72 and a 200-day simple moving average of $165.87.

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

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. Nexstar Media Group’s payout ratio is currently 57.19%.

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.