Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $191.70 and traded as high as $202.66. Nexstar Media Group shares last traded at $201.23, with a volume of 577,334 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Wall Street Zen raised Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Zacks Research downgraded Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Finally, Citigroup lifted their target price on shares of Nexstar Media Group from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average target price of $257.50.
Read Our Latest Report on Nexstar Media Group
Nexstar Media Group Stock Performance
The stock has a market capitalization of $6.20 billion, a PE ratio of 18.31 and a beta of 0.97. The firm's fifty day moving average is $168.16 and its 200-day moving average is $191.70. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $7.92 EPS for the quarter, missing the consensus estimate of $8.08 by ($0.16). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. The business's revenue was up 78.0% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.
Nexstar Media Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $1.86 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.7%. Nexstar Media Group's payout ratio is presently 67.70%.
Insider Transactions at Nexstar Media Group
In other news, COO Michael Biard sold 2,465 shares of Nexstar Media Group stock in a transaction on Monday, August 24th. The stock was sold at an average price of $185.82, for a total value of $458,046.30. Following the completion of the sale, the chief operating officer directly owned 20,890 shares of the company's stock, valued at approximately $3,881,779.80. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 4,008 shares of Nexstar Media Group stock in a transaction on Friday, August 14th. The shares were sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider directly owned 1,792 shares of the company's stock, valued at $335,928.32. The trade was a 69.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,596 shares of company stock worth $1,733,169 in the last ninety days. 7.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On Nexstar Media Group
Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in shares of Nexstar Media Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company's stock worth $116,427,000 after purchasing an additional 11,477 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Nexstar Media Group by 1.6% during the first quarter. Principal Financial Group Inc. now owns 488,744 shares of the company's stock worth $88,381,000 after acquiring an additional 7,661 shares during the period. Bank of America Corp DE increased its position in shares of Nexstar Media Group by 17.0% during the first quarter. Bank of America Corp DE now owns 173,269 shares of the company's stock worth $31,332,000 after acquiring an additional 25,193 shares during the period. Capital Management Corp VA increased its position in shares of Nexstar Media Group by 3.3% during the third quarter. Capital Management Corp VA now owns 154,213 shares of the company's stock worth $24,916,000 after acquiring an additional 4,865 shares during the period. Finally, Valley Wealth Managers Inc. raised its stake in shares of Nexstar Media Group by 2.5% in the third quarter. Valley Wealth Managers Inc. now owns 142,946 shares of the company's stock valued at $23,096,000 after acquiring an additional 3,547 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.
About Nexstar Media Group
(
Get Free Report)
Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities.
The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.
Founded by Perry Sook in 1996 and headquartered in Irving, Texas, Nexstar expanded its station portfolio through acquisitions, including its 2019 acquisition of Tribune Media.
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