Nexstar Media Group (NASDAQ:NXST) Sets New 1-Year High - What's Next?

Key Points

• Nexstar Media Group shares hit a new **52-week high** of $202.33 during trading, closing at $202.05 with a **trading volume of 368,443 shares**.
• Analysts remain bullish, with **target prices raised**, including Wells Fargo increasing theirs from $206 to **$250**, indicating strong growth potential.
• The company declared a quarterly **dividend of $1.86**, with an annualized dividend yield of **3.7%**, showcasing its commitment to returning value to shareholders.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $202.33 and last traded at $202.05, with a volume of 368443 shares trading hands. The stock had previously closed at $194.07.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Benchmark raised their target price on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Barrington Research lifted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus price target of $220.00.

Nexstar Media Group Stock Up 4.1%

The stock has a 50 day simple moving average of $179.53 and a 200-day simple moving average of $168.21. The firm has a market cap of $6.16 billion, a PE ratio of 10.49, a PEG ratio of 1.41 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 1.74.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the business earned $3.54 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.86 dividend. The ex-dividend date is Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.7%. Nexstar Media Group's payout ratio is currently 38.63%.

Insiders Place Their Bets

In other news, insider Sean Compton sold 1,088 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 value of $190,976.64. Following the completion of the transaction, the insider owned 12,096 shares in the company, valued at $2,123,210.88. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Biard sold 2,182 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer owned 7,218 shares of the company's stock, valued at $1,252,972.62. This represents a 23.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock worth $3,666,988 over the last three months. Company insiders own 6.70% of the company's stock.

Institutional Trading of Nexstar Media Group

Large investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company's stock worth $26,000 after acquiring an additional 120 shares during the period. Allworth Financial LP grew its holdings in shares of Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company's stock worth $36,000 after acquiring an additional 179 shares during the period. LRI Investments LLC bought a new stake in shares of Nexstar Media Group in the second quarter worth $43,000. Parkside Financial Bank & Trust grew its holdings in shares of Nexstar Media Group by 70.6% in the second quarter. Parkside Financial Bank & Trust now owns 273 shares of the company's stock worth $47,000 after acquiring an additional 113 shares during the period. Finally, Whipplewood Advisors LLC grew its holdings in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after acquiring an additional 274 shares during the period. Institutional investors own 95.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.