Analysts Set Nexstar Media Group, Inc. (NASDAQ:NXST) PT at $256.50

Nexstar Media Group, Inc. (NASDAQ:NXST) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. One 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 price target among brokers that have issued ratings on the stock in the last year is $256.50.

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

Insider Buying and Selling at Nexstar Media Group

In related news, insider Dana Zimmer sold 4,008 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the transaction, the insider owned 1,792 shares of the company’s stock, valued at approximately $335,928.32. This trade represents a 69.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernadette Aulestia sold 300 shares of Nexstar Media Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the completion of the transaction, the director owned 4,383 shares of the company’s stock, valued at approximately $818,744.40. This represents a 6.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,773 shares of company stock valued at $1,265,426 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC purchased a new position in Nexstar Media Group during the second quarter worth $63,000. Allworth Financial LP raised its stake in shares of Nexstar Media Group by 35.8% in the second quarter. Allworth Financial LP now owns 360 shares of the company’s stock valued at $64,000 after acquiring an additional 95 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Nexstar Media Group by 80.1% in the 4th quarter. Hantz Financial Services Inc. now owns 362 shares of the company’s stock worth $74,000 after acquiring an additional 161 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Nexstar Media Group during the 2nd quarter worth about $67,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Nexstar Media Group during the 2nd quarter worth about $80,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $156.53 on Friday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 30.04 and a beta of 0.90. The firm has a fifty day moving average price of $181.86 and a 200 day moving average price of $191.17. Nexstar Media Group has a fifty-two week low of $154.47 and a fifty-two week high of $254.30. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 EPS. As a group, sell-side analysts expect that Nexstar Media Group will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $1.86 dividend. The ex-dividend date was Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.8%. Nexstar Media Group’s payout ratio is 142.80%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.

The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.