Nexstar Media Group (NASDAQ:NXST) Earns Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Nexstar Media Group (NASDAQ:NXSTFree Report) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $225.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Barrington Research restated an outperform rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, May 9th. Rosenblatt Securities cut their target price on Nexstar Media Group from $216.00 to $213.00 and set a buy rating on the stock in a research report on Wednesday, March 13th. Wells Fargo & Company raised Nexstar Media Group from an equal weight rating to an overweight rating and upped their target price for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Loop Capital raised Nexstar Media Group to a strong-buy rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $206.00.

Get Our Latest Report on NXST

Nexstar Media Group Stock Up 1.0 %

Shares of NASDAQ:NXST opened at $156.97 on Thursday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.32. The stock has a market capitalization of $5.15 billion, a P/E ratio of 13.28, a PEG ratio of 0.56 and a beta of 1.48. The stock has a 50-day simple moving average of $161.75 and a 200-day simple moving average of $163.90.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.97 EPS. Equities analysts forecast that Nexstar Media Group will post 27.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.31%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Transactions at Nexstar Media Group

In related news, insider Gary Weitman sold 522 shares of Nexstar Media Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the transaction, the insider now directly owns 12,477 shares of the company’s stock, valued at $1,860,071.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Nexstar Media Group news, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the completion of the sale, the insider now directly owns 12,477 shares in the company, valued at approximately $1,860,071.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,826 shares of company stock valued at $1,422,237. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NXST. SummerHaven Investment Management LLC increased its position in shares of Nexstar Media Group by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock valued at $637,000 after purchasing an additional 70 shares during the period. Signaturefd LLC boosted its stake in Nexstar Media Group by 20.3% in the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares in the last quarter. Granite Group Advisors LLC boosted its stake in Nexstar Media Group by 5.1% in the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. Fifth Third Bancorp boosted its stake in Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 81 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

About Nexstar Media Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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