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

Nexstar Media Group, Inc. (NASDAQ:NXST) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $268.3333.

Several research firms have commented on NXST. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Benchmark lowered their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Barrington Research reiterated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 23rd.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWA Asset Management Group LLC raised its stake in shares of Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after acquiring an additional 51 shares during the period. Merit Financial Group LLC raised its stake in shares of Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after acquiring an additional 56 shares during the period. Truist Financial Corp raised its stake in shares of Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after acquiring an additional 56 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Nexstar Media Group by 0.6% in the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock valued at $2,222,000 after acquiring an additional 68 shares during the period. Finally, WPG Advisers LLC raised its stake in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $210.20 on Thursday. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. The company has a fifty day simple moving average of $219.05 and a two-hundred day simple moving average of $207.55. The firm has a market capitalization of $6.37 billion, a P/E ratio of 71.50, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.5%. Nexstar Media Group’s dividend payout ratio is currently 253.06%.

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.