Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $193.83 Consensus Target Price from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $193.83.

Several equities analysts recently weighed in on the company. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. Rosenblatt Securities cut their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lisbeth Mcnabb sold 3,175 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $168.00, for a total value of $533,400.00. Following the completion of the sale, the director now directly owns 5,252 shares in the company, valued at $882,336. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,508 shares of company stock worth $7,487,950. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently bought and sold shares of NXST. EverSource Wealth Advisors LLC grew its stake in shares of Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after buying an additional 177 shares during the period. First United Bank & Trust purchased a new position in shares of Nexstar Media Group in the 4th quarter worth about $33,000. SRS Capital Advisors Inc. lifted its stake in shares of Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $45,000. Finally, Quadrant Capital Group LLC increased its position in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST opened at $163.11 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group has a 52-week low of $132.30 and a 52-week high of $187.32. The company has a 50-day simple moving average of $165.67 and a 200-day simple moving average of $158.72. The company has a market capitalization of $5.45 billion, a PE ratio of 16.94, a P/E/G ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $8.04 earnings per share. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities research analysts predict that Nexstar Media Group will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.14%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio (DPR) is presently 70.20%.

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.