Nexstar Media Group, Inc. (NXST) – What Are Researchers Thinking About This Stock?

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $256.50.

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

Nexstar Media Group Trading Down 0.6%

NXST opened at $160.55 on Thursday. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 30.82 and a beta of 0.94. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock has a fifty day moving average price of $174.03 and a 200-day moving average price of $182.13. Nexstar Media Group has a 12 month low of $153.17 and a 12 month high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results 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). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company posted $3.06 earnings per share. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nexstar Media Group will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a yield of 4.6%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 142.80%.

Insider Activity at Nexstar Media Group

In other news, COO Michael Biard sold 2,465 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 20,890 shares in the company, valued at $3,881,779.80. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bernadette S. Aulestia sold 300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the sale, the director owned 4,383 shares of the company’s stock, valued at $818,744.40. The trade was a 6.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,596 shares of company stock worth $1,733,169 in the last quarter. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings 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 purchasing an additional 25,193 shares during the last quarter. Sentinel Dome Partners LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter worth approximately $2,315,000. CPC Advisors LLC increased its position in Nexstar Media Group by 114.3% during the first quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock worth $4,819,000 after purchasing an additional 14,217 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at $1,607,000. Finally, Paralel Advisors LLC acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth $2,285,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified media company that owns and operates local television stations across the United States. Its stations provide local news, weather, sports, and entertainment programming, while also distributing content through digital platforms and connected television services.

The company also operates national media businesses, including NewsNation, a national cable news network, and The CW Network, which offers scripted programming, sports, and other entertainment content.