Nexstar Media Group (NASDAQ:NXST) Sets New 1-Year High - Time to Buy?

Key Points

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Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $223.36 and last traded at $216.93, with a volume of 123025 shares changing hands. The stock had previously closed at $206.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Barrington Research upped their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Benchmark upped their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $220.00.

Nexstar Media Group Price Performance

The business's 50 day moving average is $182.86 and its two-hundred day moving average is $169.76. The firm has a market capitalization of $6.29 billion, a PE ratio of 10.74, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. Nexstar Media Group's quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $3.54 earnings per share. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 38.63%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,182 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the transaction, the chief operating officer directly owned 7,218 shares in the company, valued at $1,252,972.62. This trade represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Ann Gliha sold 1,437 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares in the company, valued at $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,021 shares of company stock valued at $2,885,352. 6.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Raymond James Financial Inc. bought a new position in shares of Nexstar Media Group in the fourth quarter worth approximately $8,402,000. Sterling Capital Management LLC grew its holdings in shares of Nexstar Media Group by 41.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,336 shares of the company's stock worth $211,000 after purchasing an additional 392 shares during the last quarter. Barclays PLC grew its holdings in shares of Nexstar Media Group by 5.8% in the fourth quarter. Barclays PLC now owns 47,679 shares of the company's stock worth $7,532,000 after purchasing an additional 2,628 shares during the last quarter. Mariner LLC grew its holdings in shares of Nexstar Media Group by 5.3% in the fourth quarter. Mariner LLC now owns 2,300 shares of the company's stock worth $363,000 after purchasing an additional 115 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Nexstar Media Group by 161.2% in the fourth quarter. Guggenheim Capital LLC now owns 5,885 shares of the company's stock worth $930,000 after purchasing an additional 3,632 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Company Profile

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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