Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Price Target at $268.33

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two 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 updated their coverage on the stock in the last year is $268.3333.

Several research analysts recently weighed in on NXST shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $252.00 to $220.00 in a report on Friday, April 10th. Benchmark decreased their price target on 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 issued a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd.

Nexstar Media Group Trading Up 1.7%

Shares of NXST stock opened at $200.78 on Thursday. The stock has a 50-day simple moving average of $221.14 and a 200 day simple moving average of $207.36. Nexstar Media Group has a fifty-two week low of $141.66 and a fifty-two week high of $254.30. The stock has a market capitalization of $6.09 billion, a P/E ratio of 68.29, a P/E/G ratio of 0.78 and a beta of 0.93. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, February 13th. Nexstar Media Group’s payout ratio is presently 253.06%.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWA Asset Management Group LLC raised its holdings in Nexstar Media Group by 1.7% during the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after buying an additional 51 shares during the period. Merit Financial Group LLC raised its holdings in Nexstar Media Group by 1.6% during the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after buying an additional 56 shares during the period. Truist Financial Corp raised its holdings in Nexstar Media Group by 5.2% during the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares during the period. Verdence Capital Advisors LLC raised its holdings in Nexstar Media Group by 0.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after buying an additional 68 shares during the period. Finally, WPG Advisers LLC raised its holdings in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.