Analysts Set Nexstar Media Group, Inc. (NASDAQ:NXST) PT at $201.67

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $201.67.

A number of research firms have recently weighed in on NXST. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,426 shares of company stock valued at $5,116,478. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

Several large investors have recently modified their holdings of NXST. Capital Research Global Investors bought a new position in shares of Nexstar Media Group during the 1st quarter valued at approximately $92,323,000. Point72 Asset Management L.P. increased its position in shares of Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after purchasing an additional 358,920 shares during the last quarter. Norges Bank purchased a new position in Nexstar Media Group during the 4th quarter valued at $51,812,000. Vanguard Group Inc. boosted its holdings in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares during the period. Finally, Payden & Rygel Investment Group purchased a new position in Nexstar Media Group during the 1st quarter valued at $15,144,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.8 %

Shares of NASDAQ:NXST opened at $166.40 on Wednesday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock’s 50-day simple moving average is $169.87 and its two-hundred day simple moving average is $165.71. Nexstar Media Group has a 52-week low of $132.30 and a 52-week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 earnings per share. Analysts expect that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.06%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

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.