Analysts Set Nexstar Media Group Inc (NXST) PT at $109.50

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Nexstar Media Group Inc (NASDAQ:NXST) has received an average rating of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $109.50.

A number of equities analysts have recently weighed in on NXST shares. BidaskClub downgraded Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research note on Friday. Benchmark restated a “buy” rating and issued a $120.00 target price (up previously from $115.00) on shares of Nexstar Media Group in a research note on Thursday, March 21st. B. Riley boosted their target price on Nexstar Media Group from $123.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. ValuEngine upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Finally, Barrington Research reissued a “buy” rating and set a $110.00 target price on shares of Nexstar Media Group in a report on Tuesday, February 26th.

NXST traded up $1.10 during midday trading on Friday, reaching $112.29. 2,352 shares of the company were exchanged, compared to its average volume of 524,309. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $5.30 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.76 and a beta of 1.58. Nexstar Media Group has a one year low of $60.30 and a one year high of $119.93.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.01. The firm had revenue of $798.02 million during the quarter, compared to analyst estimates of $787.00 million. Nexstar Media Group had a return on equity of 23.72% and a net margin of 14.08%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $7.97 EPS. On average, equities analysts forecast that Nexstar Media Group will post 6.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. Nexstar Media Group’s payout ratio is 21.08%.

In other news, EVP Blake Russell sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $107.28, for a total value of $321,840.00. Following the transaction, the executive vice president now owns 26,350 shares of the company’s stock, valued at $2,826,828. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin Pompadur sold 1,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $104.60, for a total transaction of $104,600.00. Following the completion of the transaction, the director now directly owns 8,875 shares in the company, valued at approximately $928,325. The disclosure for this sale can be found here. Insiders have sold a total of 48,573 shares of company stock worth $5,142,132 in the last three months. Insiders own 6.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners bought a new position in shares of Nexstar Media Group in the first quarter worth $17,659,000. Stevens Capital Management LP bought a new position in shares of Nexstar Media Group in the first quarter worth $1,861,000. Comerica Bank increased its holdings in shares of Nexstar Media Group by 2.0% in the first quarter. Comerica Bank now owns 37,527 shares of the company’s stock worth $4,316,000 after purchasing an additional 733 shares during the period. First National Bank of Omaha increased its holdings in shares of Nexstar Media Group by 0.7% in the first quarter. First National Bank of Omaha now owns 24,419 shares of the company’s stock worth $2,646,000 after purchasing an additional 163 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Nexstar Media Group by 27.7% in the first quarter. SG Americas Securities LLC now owns 11,027 shares of the company’s stock worth $1,195,000 after purchasing an additional 2,390 shares during the period.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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