Nexstar Media Group (NASDAQ:NXST) Cut to Hold at StockNews.com

StockNews.com lowered shares of Nexstar Media Group (NASDAQ:NXSTFree Report) from a buy rating to a hold rating in a research note published on Friday.

Several other research analysts also recently issued reports on the stock. Benchmark reiterated a buy rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Wells Fargo & Company lowered their target price 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. Barrington Research reiterated an outperform rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $201.14.

View Our Latest Stock Analysis on Nexstar Media Group

Nexstar Media Group Stock Up 1.0 %

NXST opened at $164.25 on Friday. The firm has a market capitalization of $5.41 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. Nexstar Media Group has a one year low of $132.30 and a one year high of $187.27. The company has a fifty day moving average price of $167.12 and a 200-day moving average price of $165.88. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its quarterly earnings data 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 net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The firm’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 fiscal 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 was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.12%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Activity

In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now owns 7,725 shares in the company, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rachel Morgan sold 6,196 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,112 shares of company stock valued at $6,887,029. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $92,323,000. Point72 Asset Management L.P. raised its position in Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after purchasing an additional 358,920 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 127,783 shares during the period. Payden & Rygel Investment Group bought a new position in shares of Nexstar Media Group during the 1st quarter worth $15,144,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Nexstar Media Group during the first quarter valued at $14,421,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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