Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Rating of "Buy" by Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) has been assigned a consensus rating of "Buy" from the seven analysts that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $205.71.

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

Insider Buying and Selling at Nexstar Media Group

In other news, insider Sean Compton sold 1,088 shares of the company'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 $190,976.64. Following the transaction, the insider now directly owns 12,096 shares of the company's stock, valued at approximately $2,123,210.88. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. The trade was a 41.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,242 shares of company stock valued at $4,352,688. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D raised its position in shares of Nexstar Media Group by 7.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 12,837 shares of the company's stock valued at $2,028,000 after purchasing an additional 840 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Nexstar Media Group during the 4th quarter valued at approximately $809,000. Venturi Wealth Management LLC increased its stake in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Nexstar Media Group by 63.5% in the fourth quarter. Ieq Capital LLC now owns 2,887 shares of the company's stock worth $456,000 after buying an additional 1,121 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $209,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $166.59 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.22 and a beta of 1.05. The company's 50-day simple moving average is $162.82 and its two-hundred day simple moving average is $162.02. Nexstar Media Group has a one year low of $141.66 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. Nexstar Media Group's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 earnings per share. As a group, equities analysts anticipate that Nexstar Media Group will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.47%. Nexstar Media Group's dividend payout ratio is presently 37.69%.

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.

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