Nexstar Media Group (NASDAQ:NXST) Reaches New 12-Month High – Time to Buy?

Nexstar Media Group, Inc. (NASDAQ:NXST)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $223.43 and last traded at $222.0450, with a volume of 188979 shares. The stock had previously closed at $218.10.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Finally, Citigroup dropped their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Performance

The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 0.81 and a beta of 0.85. The company has a 50 day moving average price of $205.60 and a 200 day moving average price of $199.56. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The firm 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%.Nexstar Media Group’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.27 earnings per share. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.4%. Nexstar Media Group’s payout ratio is presently 46.13%.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Torren Management LLC bought a new position in shares of Nexstar Media Group during the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth about $28,000. Root Financial Partners LLC bought a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $31,000. Finally, Allworth Financial LP raised its position in shares of 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 purchasing an additional 179 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.