Nexstar Media Group’s (NXST) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research note published on Thursday, Benzinga reports. They currently have a $200.00 price objective on the stock.

A number of other research firms have also commented on NXST. Benchmark restated a buy rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Thursday, June 20th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an equal weight rating to an overweight rating and boosted their price target for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Loop Capital upgraded shares of Nexstar Media Group to a strong-buy rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $201.67.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded down $5.26 during mid-day trading on Thursday, reaching $158.29. The company’s stock had a trading volume of 370,821 shares, compared to its average volume of 345,158. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.27. The company has a market capitalization of $5.21 billion, a P/E ratio of 13.39, a PEG ratio of 0.65 and a beta of 1.50. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The firm’s fifty day moving average price is $166.66 and its two-hundred day moving average price is $166.68.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.64 earnings per share. Sell-side analysts predict that Nexstar Media Group will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insiders Place Their Bets

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00. Following the completion of the sale, the director now directly owns 6,175 shares of the company’s stock, valued at $1,025,544. The disclosure for this sale can be found here. Insiders sold 6,826 shares of company stock valued at $1,080,597 over the last three months. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its holdings in shares of Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in Nexstar Media Group by 7.1% in the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after acquiring an additional 202 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in Nexstar Media Group in the 4th quarter worth approximately $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $2,111,000. Finally, International Assets Investment Management LLC raised its holdings in Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after acquiring an additional 121,764 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.