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

Barrington Research reiterated their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $200.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on NXST. Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company reduced their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Benchmark reduced their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $22.46 during midday trading on Thursday, hitting $166.04. The company’s stock had a trading volume of 1,148,299 shares, compared to its average volume of 328,556. Nexstar Media Group has a 12 month low of $140.92 and a 12 month high of $191.86. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock’s 50-day moving average price is $168.63 and its 200-day moving average price is $166.91. The company has a market capitalization of $5.36 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. Analysts anticipate that Nexstar Media Group will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.07%. Nexstar Media Group’s payout ratio is 53.14%.

Insiders Place Their Bets

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Nexstar Media Group news, COO Michael Biard sold 2,458 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $169.28, for a total transaction of $416,090.24. Following the transaction, the chief operating officer now directly owns 3,792 shares in the company, valued at $641,909.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock valued at $6,887,029 in the last three months. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nexstar Media Group in the first quarter worth $2,111,000. Vanguard Group Inc. lifted its position in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Nexstar Media Group by 116.3% during the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock valued at $5,235,000 after acquiring an additional 16,338 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Nexstar Media Group in the second quarter valued at about $570,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Nexstar Media Group by 17.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 98,272 shares of the company’s stock worth $16,932,000 after purchasing an additional 14,574 shares during the period. Institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

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.