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

Nexstar Media Group, Inc. (NASDAQ:NXST) has received a consensus rating of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $222.3750.

A number of equities analysts have recently commented on NXST shares. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Citigroup dropped their target price on 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, Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th.

Nexstar Media Group Price Performance

Shares of NXST opened at $210.83 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $223.36. The stock has a market capitalization of $6.39 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.79 and a beta of 0.84. The company has a 50 day moving average of $197.30 and a 200-day moving average of $195.77.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.48). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.27 EPS. As a group, equities research analysts forecast that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.44 annualized dividend and a dividend yield of 3.5%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its stake in shares of Nexstar Media Group by 110.7% in the second quarter. Wedge Capital Management L L P NC now owns 29,751 shares of the company’s stock worth $5,145,000 after purchasing an additional 15,628 shares during the last quarter. Caitlin John LLC purchased a new stake in Nexstar Media Group in the second quarter valued at approximately $263,000. Lynx Investment Advisory acquired a new position in Nexstar Media Group in the 1st quarter worth approximately $311,000. Pacer Advisors Inc. raised its position in Nexstar Media Group by 43.3% during the 3rd quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock worth $85,209,000 after buying an additional 130,283 shares during the last quarter. Finally, Momentum Wealth Planning LLC purchased a new position in Nexstar Media Group during the 2nd quarter worth approximately $2,798,000. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Company Profile

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.