Nexstar Media Group (NASDAQ:NXST) Shares Up 12.2% – Time to Buy?

Nexstar Media Group, Inc. (NASDAQ:NXST) shares traded up 12.2% during trading on Monday . The company traded as high as $253.16 and last traded at $248.1870. 177,635 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 318,272 shares. The stock had previously closed at $221.27.

Wall Street Analyst Weigh In

NXST has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, November 11th. Finally, Citigroup dropped their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Trading Up 8.5%

The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The company’s 50-day moving average price is $206.19 and its 200-day moving average price is $200.00. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $5.27 earnings per share. Equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, February 13th. Nexstar Media Group’s payout ratio is 46.13%.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in Nexstar Media Group in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $28,000. IFP Advisors Inc lifted its position 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 buying an additional 120 shares in the last quarter. Root Financial Partners LLC acquired a new position in Nexstar Media Group during the third quarter worth $31,000. Finally, WPG Advisers LLC boosted its stake in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.