Analysts Set Nexstar Media Group Inc (NXST) Target Price at $92.78

Shares of Nexstar Media Group Inc (NASDAQ:NXST) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $92.60.

Several brokerages have weighed in on NXST. Zacks Investment Research raised Nexstar Media Group from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Saturday. ValuEngine raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. BidaskClub raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. Finally, B. Riley increased their price objective on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, September 6th.

NASDAQ NXST traded up $1.73 on Thursday, hitting $82.64. 940,633 shares of the stock traded hands, compared to its average volume of 650,879. Nexstar Media Group has a 12 month low of $60.30 and a 12 month high of $89.75. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.98 and a beta of 1.76. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 2.34.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.15. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The business had revenue of $693.00 million during the quarter, compared to analyst estimates of $676.34 million. During the same period in the prior year, the company earned $0.98 earnings per share. Nexstar Media Group’s revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Nexstar Media Group will post 8.41 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Thursday, November 15th. Nexstar Media Group’s payout ratio is currently 37.69%.

In other news, Director Jay M. Grossman sold 3,125 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $80.66, for a total value of $252,062.50. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $4,033,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Blake Russell sold 7,262 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $82.90, for a total value of $602,019.80. Following the completion of the transaction, the executive vice president now directly owns 31,950 shares of the company’s stock, valued at $2,648,655. The disclosure for this sale can be found here. Insiders sold 23,925 shares of company stock valued at $1,954,553 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. GAM Holding AG bought a new stake in Nexstar Media Group during the second quarter valued at $593,000. Caerus Investors LLC bought a new stake in Nexstar Media Group during the second quarter valued at $2,196,000. King Luther Capital Management Corp bought a new stake in Nexstar Media Group during the second quarter valued at $2,079,000. James Investment Research Inc. bought a new stake in Nexstar Media Group during the third quarter valued at $2,274,000. Finally, Allianz Asset Management GmbH boosted its stake in Nexstar Media Group by 43.6% during the first quarter. Allianz Asset Management GmbH now owns 24,294 shares of the company’s stock valued at $1,616,000 after buying an additional 7,377 shares during the period.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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