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

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven brokerages that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $205.71.

Several brokerages recently weighed in on NXST. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Benchmark dropped their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th.

Nexstar Media Group Trading Up 2.2%

NXST opened at $183.97 on Tuesday. The stock's fifty day moving average is $171.66 and its two-hundred day moving average is $163.51. The company has a market capitalization of $5.61 billion, a P/E ratio of 9.32, a PEG ratio of 1.32 and a beta of 1.04. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $191.86. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86.

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. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $5.16 EPS. The business's revenue was down 3.9% compared to the same quarter last year. Analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.04%. Nexstar Media Group's payout ratio is 37.69%.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Sean Compton sold 1,088 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 12,096 shares in the company, valued at approximately $2,123,210.88. The trade was a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Biard sold 2,182 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $378,773.38. Following the sale, the chief operating officer owned 7,218 shares of the company's stock, valued at approximately $1,252,972.62. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. purchased a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $323,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $219,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Nexstar Media Group by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock valued at $6,180,000 after acquiring an additional 624 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Nexstar Media Group in the fourth quarter worth approximately $1,264,000. Finally, Janus Henderson Group PLC grew its position in Nexstar Media Group by 3.6% in the fourth quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock worth $2,223,000 after acquiring an additional 494 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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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