Nexstar Media Group (NASDAQ:NXST) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a report issued on Thursday.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered 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. Benchmark reiterated a buy rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research reiterated an outperform rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an overweight rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $201.67.

Nexstar Media Group Stock Up 1.0 %

NASDAQ:NXST opened at $166.38 on Thursday. The firm has a market capitalization of $5.48 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.19 and a beta of 1.49. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock’s fifty day simple moving average is $168.52 and its 200-day simple moving average is $165.88.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $2.64 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that Nexstar Media Group will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the transaction, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The disclosure for this sale can be found here. Insiders have sold a total of 33,851 shares of company stock valued at $5,690,416 over the last 90 days. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group in the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the period. GAMMA Investing LLC boosted its holdings in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares during the period. Mascoma Wealth Management LLC bought a new position in Nexstar Media Group in the 2nd quarter valued at $49,000. Finally, Quarry LP boosted its holdings in Nexstar Media Group by 77.8% in the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after purchasing an additional 130 shares during the period. Institutional investors own 95.30% of the company’s stock.

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.