Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $206.43.

A number of brokerages have recently weighed in on NXST. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Wells Fargo & Company lowered their target price on Nexstar Media Group from $175.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Finally, Citigroup began coverage on Nexstar Media Group in a research note on Friday, December 8th. They set a “neutral” rating and a $158.00 target price on the stock.

Check Out Our Latest Stock Analysis on Nexstar Media Group

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $162.72 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.87. The stock’s 50 day moving average price is $163.09 and its two-hundred day moving average price is $155.13. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.59 and a beta of 1.56. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $202.26.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.83). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. Nexstar Media Group had a net margin of 8.51% and a return on equity of 20.92%. Nexstar Media Group’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.30 EPS. On average, analysts anticipate that Nexstar Media Group will post 10.78 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio (DPR) is currently 58.23%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Thomas Carter sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $149.36, for a total value of $896,160.00. Following the sale, the insider now owns 92,082 shares of the company’s stock, valued at approximately $13,753,367.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Nexstar Media Group news, EVP Blake Russell sold 5,243 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $156.42, for a total value of $820,110.06. Following the sale, the executive vice president now owns 22,329 shares of the company’s stock, valued at approximately $3,492,702.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Carter sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $149.36, for a total value of $896,160.00. Following the sale, the insider now directly owns 92,082 shares in the company, valued at approximately $13,753,367.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,273 shares of company stock valued at $5,773,808. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently modified their holdings of the company. Copeland Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 15.3% during the 3rd quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock valued at $72,063,000 after acquiring an additional 66,645 shares in the last quarter. Comerica Bank acquired a new position in Nexstar Media Group during the 2nd quarter worth about $154,760,000. New York State Common Retirement Fund lifted its holdings in Nexstar Media Group by 71.0% during the 3rd quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock worth $35,796,000 after buying an additional 103,636 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Nexstar Media Group by 217.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,320 shares of the company’s stock worth $1,766,000 after buying an additional 8,443 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Nexstar Media Group during the 2nd quarter worth about $242,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

(Get Free Report

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.

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