Nexstar Media Group, Inc. (NASDAQ: NXST) Receives Average Analyst “Buy” Rating
Shares of Nexstar Media Group, Inc. (NASDAQ: NXST – Get an assessment) received an average “Buy” rating from the eight analysts who currently cover the company, Marketbeat.com reports. Three equity research analysts rated the stock with a buy rating. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $210.57.
NXST has been the subject of several recent analyst reports. Guggenheim raised its price target on Nexstar Media Group shares from $210.00 to $220.00 in a Wednesday, May 11 report. Rosenblatt Securities raised its price target on Nexstar Media Group shares to $181.00 and gave the company an “na” rating in a Monday, May 16 report. Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group shares from $216.00 to $225.00 in a Thursday, May 12 report. To finish, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a Thursday, May 12, report.
Shares of Nexstar Media Group opened at $166.98 on Tuesday. The company has a debt ratio of 2.47, a quick ratio of 2.02 and a current ratio of 2.02. Nexstar Media Group has a 52-week low of $135.87 and a 52-week high of $192.84. The stock has a market capitalization of $6.75 billion, a price/earnings ratio of 8.11, a P/E/G ratio of 0.63 and a beta of 1.53. The company’s 50-day moving average price is $167.36 and its 200-day moving average price is $169.25.
Nexstar Media Group (NASDAQ: NXST – Get an assessment) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $5.99 for the quarter, beating the consensus estimate of $4.33 by $1.66. Nexstar Media Group achieved a net margin of 18.66% and a return on equity of 32.08%. The company posted revenue of $1.21 billion for the quarter, versus $1.19 billion for analysts. In the same quarter last year, the company earned earnings per share of $4.42. The company’s revenue increased 6.9% year over year. As a group, equity research analysts expect Nexstar Media Group to post earnings per share of 25.9 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.90 per share. This represents an annualized dividend of $3.60 and a yield of 2.16%. The ex-dividend date was Thursday, May 12. Nexstar Media Group’s dividend payout ratio is currently 17.48%.
In other Nexstar Media Group news, Director Dennis Miller sold 4,989 shares of the company in a trade on Thursday, June 9. The stock was sold at an average price of $172.33, for a total transaction of $859,754.37. Following completion of the transaction, the director now owns 1,625 shares of the company, valued at $280,036.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Blake Russell sold 709 shares of the company in a trade on Wednesday, May 18. The shares were sold at an average price of $173.86, for a total value of $123,266.74. Following the transaction, the executive vice president now directly owns 29,557 shares of the company, valued at approximately $5,138,780.02. Disclosure of this sale can be found here. Insiders have sold 9,758 shares of the company valued at $1,694,946 in the past three months. Insiders hold 6.90% of the shares of the company.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Genesee Capital Advisors LLC raised its position in Nexstar Media Group shares by 4.8% in the first quarter. Genesee Capital Advisors LLC now owns 6,231 shares of the company worth $1,174,000 after buying 287 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Nexstar Media Group shares by 51.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 32,671 shares in the company worth $6,158,000 after purchasing an additional 11,072 shares in the last quarter. Weiss Multi Strategy Advisers LLC increased its position in Nexstar Media Group shares by 19.1% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 23,880 shares of the company worth $4,501,000 after purchasing 3,825 additional shares in the last quarter. Virtu Financial LLC bought a new position in shares of Nexstar Media Group in Q1 for a value of approximately $397,000. Finally, Engine Capital Management LP increased its position in Nexstar Media Group shares by 38.9% in the 1st quarter. Engine Capital Management LP now owns 35,687 shares of the company worth $6,726,000 after buying an additional 10,000 shares in the last quarter. 96.00% of the shares are held by hedge funds and other institutional investors.
About Nexstar Media Group (Get an assessment)
Nexstar Media Group, Inc, a television broadcasting and digital media company, is focused on the acquisition, development and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to viewers.
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