Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Rating of "Buy" from Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) have received an average recommendation of "Buy" from the seven research firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $205.71.

Several analysts recently commented on the stock. Rosenblatt Securities restated a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Guggenheim lifted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th.

Nexstar Media Group Stock Up 2.2%

Shares of NXST stock traded up $3.71 during trading on Monday, hitting $175.22. 361,170 shares of the company were exchanged, compared to its average volume of 391,323. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 0.45 and a beta of 1.06. The business's 50-day simple moving average is $162.55 and its 200 day simple moving average is $161.94. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.26 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. As a group, analysts forecast that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's dividend payout ratio is 37.69%.

Insider Activity

In related news, insider Sean Compton sold 1,088 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the transaction, the insider now owns 12,096 shares of the company's stock, valued at approximately $2,123,210.88. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gary Weitman sold 424 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $74,424.72. Following the transaction, the insider now directly owns 5,301 shares in the company, valued at $930,484.53. This trade represents a 7.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,558 shares of company stock valued at $7,504,098 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Barclays PLC increased its position in Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company's stock worth $7,448,000 after acquiring an additional 6,475 shares during the period. CX Institutional increased its holdings in Nexstar Media Group by 13.1% in the 4th quarter. CX Institutional now owns 1,579 shares of the company's stock valued at $249,000 after buying an additional 183 shares during the period. Drive Wealth Management LLC bought a new stake in Nexstar Media Group in the 4th quarter valued at $208,000. Blue Trust Inc. increased its holdings in Nexstar Media Group by 18.8% in the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $214,000 after buying an additional 205 shares during the period. Finally, KBC Group NV increased its holdings in Nexstar Media Group by 1,801.8% in the 4th quarter. KBC Group NV now owns 17,230 shares of the company's stock valued at $2,722,000 after buying an additional 16,324 shares during the period. Institutional investors own 95.30% of the company's stock.

About Nexstar Media Group

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.