Nexstar Media Group (NASDAQ:NXST) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $230.00 price objective on the stock.

Several other equities analysts have also weighed in on NXST. Barrington Research restated an outperform rating and issued a $235.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $210.00 to $205.00 and set a buy rating on the stock in a report on Tuesday, August 15th. Guggenheim lifted their price objective on Nexstar Media Group from $216.00 to $220.00 in a report on Thursday, June 29th. Finally, StockNews.com assumed coverage on Nexstar Media Group in a report on Thursday, August 17th. They issued a hold rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $215.83.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $150.07 on Friday. The stock has a 50-day simple moving average of $164.99 and a two-hundred day simple moving average of $165.73. The firm has a market capitalization of $5.26 billion, a P/E ratio of 8.24, a PEG ratio of 1.73 and a beta of 1.50. Nexstar Media Group has a fifty-two week low of $133.09 and a fifty-two week high of $217.76. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.88 and a current ratio of 1.88.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.24). Nexstar Media Group had a net margin of 13.31% and a return on equity of 29.41%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $5.56 EPS. Nexstar Media Group’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts forecast that Nexstar Media Group will post 11.77 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Wednesday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 29.65%.

Insider Transactions at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 910 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $160.03, for a total transaction of $145,627.30. Following the transaction, the chief financial officer now directly owns 4,476 shares in the company, valued at approximately $716,294.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Lee Ann Gliha sold 910 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $160.03, for a total value of $145,627.30. Following the transaction, the chief financial officer now directly owns 4,476 shares in the company, valued at $716,294.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rachel Morgan sold 937 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $163.77, for a total value of $153,452.49. Following the completion of the transaction, the executive vice president now owns 2,813 shares in the company, valued at $460,685.01. The disclosure for this sale can be found here. Insiders have sold a total of 10,544 shares of company stock worth $1,729,450 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new position in Nexstar Media Group in the first quarter valued at approximately $26,000. Denali Advisors LLC raised its position in Nexstar Media Group by 107.0% in the first quarter. Denali Advisors LLC now owns 207 shares of the company’s stock valued at $36,000 after purchasing an additional 107 shares during the period. Endurance Wealth Management Inc. purchased a new stake in Nexstar Media Group in the first quarter valued at approximately $43,000. Global Retirement Partners LLC raised its position in Nexstar Media Group by 176.1% in the first quarter. Global Retirement Partners LLC now owns 254 shares of the company’s stock valued at $42,000 after purchasing an additional 162 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Nexstar Media Group by 228.9% in the fourth quarter. Quadrant Capital Group LLC now owns 273 shares of the company’s stock valued at $48,000 after purchasing an additional 190 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.