Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Nexstar Media Group has a consensus analyst rating of “Moderate Buy”, with six buy ratings and two hold ratings among eight covering brokerages.
• The average 12-month price target for NXST is about $262.17, though recent analyst updates have shown mixed target changes, including both cuts and increases.
• The company recently declared a quarterly dividend of $1.86 per share, equal to $7.44 annually and a 3.7% yield, payable on May 29 to shareholders of record on May 15.

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) have received a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $262.1667.

NXST has been the subject of several research analyst reports. Citigroup raised shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Benchmark dropped their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Guggenheim boosted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Wells Fargo & Company decreased their target price on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Nexstar Media Group from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd.

Institutional Trading of Nexstar Media Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dorsal Capital Management LP bought a new position in shares of Nexstar Media Group during the third quarter worth about $74,152,000. QVT Financial LP boosted its stake in Nexstar Media Group by 200.0% during the fourth quarter. QVT Financial LP now owns 155,281 shares of the company's stock valued at $31,530,000 after buying an additional 310,562 shares in the last quarter. AQR Capital Management LLC boosted its stake in Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company's stock valued at $93,795,000 after buying an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company's stock valued at $73,960,000 after buying an additional 228,603 shares in the last quarter. Finally, Norges Bank bought a new position in Nexstar Media Group during the fourth quarter valued at about $41,474,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NXST opened at $202.79 on Monday. The business's 50 day moving average is $213.50 and its two-hundred day moving average is $207.97. Nexstar Media Group has a 52-week low of $161.60 and a 52-week high of $254.30. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 0.80 and a beta of 0.97. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, May 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 253.06%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.