Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $222.38 Average PT from Analysts

Nexstar Media Group, Inc. (NASDAQ:NXST) has received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $222.3750.

NXST has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc grew its stake in shares of Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group in the third quarter worth approximately $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group in the third quarter worth approximately $31,000. Allworth Financial LP grew its stake in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after acquiring an additional 179 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 1.1%

NASDAQ:NXST opened at $208.47 on Tuesday. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87. The firm’s fifty day moving average is $196.99 and its 200-day moving average is $195.33. The firm has a market cap of $6.32 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.48). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. Nexstar Media Group’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.27 EPS. Equities analysts expect that Nexstar Media Group will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.44 annualized dividend and a yield of 3.6%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

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.