Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Has Average Price Target of $256.50 According to Analysts

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $256.50.

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research downgraded shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday, August 24th.

Nexstar Media Group Stock Performance

Shares of NXST opened at $185.12 on Monday. The firm has a market cap of $5.70 billion, a PE ratio of 35.53 and a beta of 0.97. Nexstar Media Group has a 1 year low of $153.17 and a 1 year high of $254.30. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s fifty day moving average price is $167.55 and its two-hundred day moving average price is $192.00.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same period last year, the company posted $3.06 EPS. On average, equities research analysts forecast that Nexstar Media Group will post 32.88 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed 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 is Friday, November 13th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is presently 142.80%.

Insider Activity

In related news, insider Dana Zimmer sold 4,008 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider directly owned 1,792 shares of the company’s stock, valued at $335,928.32. This trade represents a 69.10% 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 2,465 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,881,779.80. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,596 shares of company stock worth $1,733,169 over the last ninety days. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC raised its position in shares of Nexstar Media Group by 15.0% in the 3rd quarter. Penn Capital Management Company LLC now owns 101,941 shares of the company’s stock worth $16,506,000 after acquiring an additional 13,264 shares in the last quarter. AlphaCore Capital LLC bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $258,000. Fulcrum Asset Management LLP boosted its position in shares of Nexstar Media Group by 3,836.4% during the third quarter. Fulcrum Asset Management LLP now owns 433 shares of the company’s stock valued at $70,000 after purchasing an additional 422 shares in the last quarter. Ethic Inc. boosted its position in shares of Nexstar Media Group by 4.1% during the third quarter. Ethic Inc. now owns 1,457 shares of the company’s stock valued at $235,000 after purchasing an additional 57 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in Nexstar Media Group in the third quarter worth $1,246,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Nexstar Media Group

Nexstar Media Group, Inc is a television broadcasting and digital media company headquartered in Irving, Texas. The company operates local television stations across the United States, with stations affiliated with major networks including ABC, NBC, CBS, FOX, The CW and MyNetworkTV. Its local media operations provide news, weather, sports, entertainment and other programming to audiences in markets nationwide.

Nexstar also owns and operates national media properties, including NewsNation, a cable and streaming news network, and The Hill, a political news and information platform.