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 report released on Wednesday,Benzinga reports. They currently have a $200.00 target price on the stock.

A number of other analysts have also recently weighed in on the company. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

Nexstar Media Group Stock Down 0.1 %

Shares of Nexstar Media Group stock opened at $169.63 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $5.26 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The business has a 50-day moving average price of $155.78 and a 200 day moving average price of $163.59.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, sell-side analysts forecast that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.39%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now directly owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $172.00, for a total value of $150,500.00. Following the transaction, the director now directly owns 5,752 shares of the company’s stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,589 shares of company stock valued at $26,171,210. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company’s stock valued at $210,314,000 after purchasing an additional 4,704 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Nexstar Media Group by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company’s stock valued at $174,103,000 after acquiring an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock valued at $122,227,000 after acquiring an additional 768,934 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Nexstar Media Group by 22.3% during the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company’s stock valued at $73,162,000 after acquiring an additional 84,367 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

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.