Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Has Consensus Price Target of $256.50

Key Points

• Analyst sentiment is moderately positive: Six of eight analysts rate Nexstar Media Group a buy, while one recommends holding and one recommends selling. The consensus 12-month price target is $256.50.
• Nexstar’s latest quarterly results showed revenue of $1.99 billion, up 62.2% year over year and above estimates, but EPS of $3.61 fell well short of the $5.98 consensus forecast.
• The stock opened at $158.05, near its 52-week low, while the company maintained a quarterly dividend of $1.86 per share, representing a 4.7% annualized yield. Insiders sold $1.73 million of shares over the prior three months, while institutional investors owned 95.3% of the stock.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $256.50.

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Wall Street Zen downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nexstar Media Group in a research note on Monday, August 24th.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,465 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $185.82, for a total value of $458,046.30. Following the completion of the sale, the chief operating officer directly owned 20,890 shares of the company's stock, valued at $3,881,779.80. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bernadette Aulestia sold 300 shares of Nexstar Media Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the completion of the sale, the director directly owned 4,383 shares of the company's stock, valued at approximately $818,744.40. This trade represents a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,596 shares of company stock valued at $1,733,169 in the last three months. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of Nexstar Media Group by 35.8% in the 2nd quarter. Allworth Financial LP now owns 360 shares of the company's stock valued at $64,000 after acquiring an additional 95 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Nexstar Media Group by 1.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,826 shares of the company's stock valued at $1,054,000 after acquiring an additional 100 shares during the period. Lazard Asset Management LLC grew its position in Nexstar Media Group by 6.4% during the 1st quarter. Lazard Asset Management LLC now owns 1,774 shares of the company's stock worth $321,000 after acquiring an additional 106 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Nexstar Media Group by 1.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,455 shares of the company's stock worth $1,529,000 after acquiring an additional 108 shares during the last quarter. Finally, Severin Investments LLC grew its position in Nexstar Media Group by 4.5% during the 1st quarter. Severin Investments LLC now owns 2,608 shares of the company's stock worth $472,000 after acquiring an additional 113 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Up 0.4%

NXST opened at $158.05 on Thursday. Nexstar Media Group has a fifty-two week low of $153.17 and a fifty-two week high of $254.30. The firm has a market capitalization of $4.87 billion, a P/E ratio of 30.34 and a beta of 0.94. The company's 50-day moving average is $175.86 and its 200 day moving average is $183.50. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.98 by ($2.37). The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The company's revenue for the quarter was up 62.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. Research analysts expect that Nexstar Media Group will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, August 14th. Nexstar Media Group's dividend payout ratio is currently 142.80%.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified media company that owns and operates local television stations across the United States. Its stations provide local news, weather, sports, and entertainment programming, while also distributing content through digital platforms and connected television services.

The company also operates national media businesses, including NewsNation, a national cable news network, and The CW Network, which offers scripted programming, sports, and other entertainment content.

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