Analysts Set Nexstar Media Group, Inc. (NASDAQ:NXST) PT at $206.00

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have received a consensus rating of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $206.00.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, May 9th. Finally, Rosenblatt Securities reduced their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, the chief executive officer now owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lisbeth Mcnabb sold 3,175 shares of Nexstar Media Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total transaction of $533,400.00. Following the completion of the sale, the director now directly owns 5,252 shares of the company’s stock, valued at approximately $882,336. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,373 shares of company stock worth $7,632,777. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently bought and sold shares of NXST. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group during the 1st quarter worth about $92,323,000. Channing Capital Management LLC lifted its position in shares of Nexstar Media Group by 738.8% during the 3rd quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock worth $72,576,000 after buying an additional 445,859 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after buying an additional 358,920 shares during the last quarter. Norges Bank acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $51,812,000. Finally, Boston Financial Mangement LLC grew its position in shares of Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after buying an additional 145,617 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $161.42 on Thursday. The company’s 50-day moving average price is $166.23 and its 200-day moving average price is $162.52. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company has a market cap of $5.30 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.61 and a beta of 1.50. Nexstar Media Group has a twelve month low of $132.30 and a twelve month high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.97 earnings per share. On average, sell-side analysts forecast that Nexstar Media Group will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

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.