Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $208.43 Consensus Target Price from Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $208.43.

NXST has been the topic of a number of recent research reports. Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Benchmark upped their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 161,455 shares of company stock worth $26,158,403 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Several large investors have recently bought and sold shares of NXST. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group during the third quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth about $25,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group during the third quarter worth about $33,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 0.8 %

Shares of NASDAQ NXST opened at $169.88 on Wednesday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.47. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group has a 52-week low of $146.04 and a 52-week high of $191.86. The business’s 50 day moving average is $157.81 and its two-hundred day moving average is $163.75.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Research analysts predict that Nexstar Media Group will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.38%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is 34.56%.

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.