Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Price Target at $193.83

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $193.83.

Several brokerages recently commented on NXST. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Rosenblatt Securities lowered their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, March 7th.

Insider Activity

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the 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 sale, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Compton sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total transaction of $487,830.00. Following the completion of the transaction, the insider now directly owns 9,489 shares of the company’s stock, valued at $1,543,006.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,508 shares of company stock worth $7,487,950. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NXST. EverSource Wealth Advisors LLC raised its position in shares of Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 177 shares during the last quarter. First United Bank & Trust acquired a new position in Nexstar Media Group during the 4th quarter valued at about $33,000. SRS Capital Advisors Inc. boosted 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 during the last quarter. OLD Second National Bank of Aurora acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $45,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $158.92 on Friday. The firm’s 50-day moving average is $164.98 and its 200-day moving average is $159.11. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.60 and a beta of 1.50. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. Nexstar Media Group has a 52-week low of $132.30 and a 52-week high of $187.32.

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

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.25%. Nexstar Media Group’s dividend payout ratio is 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.