Nexstar Media Group (NASDAQ:NXST) Receives Outperform Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $200.00 target price on the stock.

Several other research firms have also issued reports on NXST. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Benchmark dropped their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Stock Performance

NASDAQ NXST traded down $22.46 during midday trading on Thursday, hitting $166.04. The company had a trading volume of 1,148,299 shares, compared to its average volume of 328,556. The firm has a fifty day simple moving average of $168.63 and a two-hundred day simple moving average of $166.91. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $191.86. 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 has a market cap of $5.36 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Equities analysts forecast that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.07%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 53.14%.

Insider Buying and Selling at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction on 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 directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This trade 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 through this hyperlink. In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The stock was 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 in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now directly owns 7,975 shares of the company’s stock, valued at approximately $1,276,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,112 shares of company stock valued at $6,887,029. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares during the period. Dimensional Fund Advisors LP boosted its position in Nexstar Media Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $92,323,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. 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.