Shares of Nexstar Media Group Inc (NASDAQ:NXST) have been assigned a consensus rating of “Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $103.75.
Several research firms have recently weighed in on NXST. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. Royal Bank of Canada increased their price objective on Nexstar Media Group to $112.00 and gave the company an “outperform” rating in a report on Friday, January 11th. B. Riley increased their price objective on Nexstar Media Group from $92.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, December 18th. Zacks Investment Research raised Nexstar Media Group from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Wednesday, December 12th. Finally, Evercore ISI raised Nexstar Media Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $89.00 to $105.00 in a report on Tuesday, December 11th.
NXST stock opened at $85.47 on Tuesday. The company has a market capitalization of $3.83 billion, a PE ratio of 21.47, a PEG ratio of 1.24 and a beta of 1.41. Nexstar Media Group has a twelve month low of $60.30 and a twelve month high of $89.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.09 and a quick ratio of 2.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Friday, February 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 7th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 45.23%.
In related news, Director Jay M. Grossman sold 3,125 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $80.66, for a total transaction of $252,062.50. Following the completion of the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $4,033,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $28,000. Bank of Montreal Can raised its position in Nexstar Media Group by 35.4% in the fourth quarter. Bank of Montreal Can now owns 1,228 shares of the company’s stock worth $96,000 after acquiring an additional 321 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Nexstar Media Group in the fourth quarter worth $157,000. Engineers Gate Manager LP purchased a new position in Nexstar Media Group in the third quarter worth $204,000. Finally, Parametrica Management Ltd purchased a new position in Nexstar Media Group in the third quarter worth $205,000.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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