Analysts Set Nexstar Media Group, Inc. (NASDAQ:NXST) Price Target at $222.38

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $222.3750.

Several analysts have recently commented on NXST shares. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Citigroup reduced their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th.

Nexstar Media Group Stock Performance

Shares of NXST opened at $221.27 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm’s fifty day simple moving average is $206.19 and its two-hundred day simple moving average is $199.83. Nexstar Media Group has a 12 month low of $141.66 and a 12 month high of $223.43. The stock has a market capitalization of $6.71 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

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

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $1.86 dividend. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.4%. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Nexstar Media Group in the 1st quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after buying an additional 5,251 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after buying an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after acquiring an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Nexstar Media Group in the 1st quarter worth about $654,000. Institutional investors 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.