Nexstar Media Group (NXST) Stock Rating Reaffirmed by Noble Financial

Noble Financial reissued their buy rating on shares of Nexstar Media Group (NASDAQ:NXST) in a research report sent to investors on Thursday morning.

NXST has been the subject of several other research reports. B. Riley reaffirmed a buy rating and issued a $79.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Nexstar Media Group from a hold rating to a buy rating and set a $66.00 price objective for the company in a research note on Wednesday, September 13th. Deutsche Bank initiated coverage on shares of Nexstar Media Group in a research note on Friday, October 20th. They issued a buy rating and a $80.00 price objective for the company. Guggenheim initiated coverage on shares of Nexstar Media Group in a research note on Wednesday, October 18th. They issued a buy rating and a $90.00 price objective for the company. Finally, BidaskClub raised shares of Nexstar Media Group from a hold rating to a buy rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $82.00.

Shares of Nexstar Media Group (NASDAQ NXST) opened at $78.75 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. Nexstar Media Group has a 52 week low of $55.95 and a 52 week high of $80.05. The stock has a market cap of $3,550.00, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.79 and a beta of 2.20.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The business had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. During the same quarter in the previous year, the business earned $0.78 EPS. Nexstar Media Group’s quarterly revenue was up 122.0% compared to the same quarter last year. research analysts forecast that Nexstar Media Group will post 3.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Thursday, November 16th. Nexstar Media Group’s dividend payout ratio is 44.94%.

In other news, EVP Elizabeth Ryder sold 3,000 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $65.87, for a total transaction of $197,610.00. Following the transaction, the executive vice president now owns 5,210 shares in the company, valued at approximately $343,182.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary Michael Vaughn sold 400 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total transaction of $28,528.00. Following the transaction, the insider now owns 7,140 shares in the company, valued at approximately $509,224.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 952,100 shares of company stock valued at $59,073,677. Company insiders own 7.80% of the company’s stock.

Large investors have recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC bought a new position in shares of Nexstar Media Group during the 2nd quarter worth about $125,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Nexstar Media Group during the 2nd quarter worth about $145,000. Victory Capital Management Inc. bought a new position in shares of Nexstar Media Group during the 3rd quarter worth about $172,000. SG Americas Securities LLC increased its holdings in shares of Nexstar Media Group by 29.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after purchasing an additional 785 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Nexstar Media Group by 2.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after purchasing an additional 99 shares during the period.

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Nexstar Media Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

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