Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Target Price at $225.00

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $225.00.

A number of research firms have recently issued reports on NXST. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday. Wells Fargo & Company lifted their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Barrington Research reissued an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Finally, Guggenheim increased their target price on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th.

Nexstar Media Group Stock Down 0.5%

Shares of NASDAQ:NXST opened at $185.71 on Monday. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The company’s fifty day moving average is $195.95 and its 200-day moving average is $187.53. The company has a market capitalization of $5.63 billion, a PE ratio of 9.64, a P/E/G ratio of 1.40 and a beta of 0.99.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $5.27 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities research analysts predict that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Hedge Funds Weigh In On Nexstar Media Group

A number of large investors have recently modified their holdings of NXST. Coldstream Capital Management Inc. bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $225,000. Danske Bank A S bought a new position in Nexstar Media Group in the 3rd quarter worth approximately $59,000. Hancock Whitney Corp lifted its holdings in Nexstar Media Group by 17.2% during the 3rd quarter. Hancock Whitney Corp now owns 4,073 shares of the company’s stock worth $805,000 after buying an additional 597 shares in the last quarter. Equity Wealth Partners LLC bought a new position in Nexstar Media Group in the 3rd quarter valued at $1,101,000. Finally, XTX Topco Ltd increased its stake in shares of Nexstar Media Group by 290.8% in the 3rd quarter. XTX Topco Ltd now owns 7,930 shares of the company’s stock valued at $1,568,000 after buying an additional 5,901 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.