Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $222.3750.

Several research firms have recently issued reports on NXST. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Citigroup reduced their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $213.69 on Friday. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.79 and a beta of 0.85. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock’s 50-day simple moving average is $205.06 and its 200-day simple moving average is $199.43. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm posted $5.27 earnings per share. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, February 13th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its position in 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 purchasing an additional 120 shares during the last quarter. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group in the third quarter worth about $28,000. Root Financial Partners LLC bought a new stake in Nexstar Media Group during the third quarter worth approximately $31,000. Finally, Allworth Financial LP raised its position in Nexstar Media Group by 617.2% during the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares during the period. 95.30% of the stock is currently owned by institutional investors.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.