Nexstar Media Group (NASDAQ:NXST) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a report released on Tuesday morning, Benzinga reports. Barrington Research currently has a $200.00 target price on the stock.

Several other research firms have also recently weighed in on NXST. Loop Capital upgraded shares of Nexstar Media Group to a strong-buy rating in a report on Friday, May 10th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an equal weight rating to an overweight rating and boosted their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Finally, Benchmark restated a buy rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of Moderate Buy and a consensus target price of $203.67.

Nexstar Media Group Stock Down 0.1 %

Shares of NASDAQ NXST traded down $0.11 during mid-day trading on Tuesday, reaching $177.57. 75,755 shares of the company’s stock traded hands, compared to its average volume of 346,873. The stock has a market cap of $5.85 billion, a P/E ratio of 15.03, a PEG ratio of 0.64 and a beta of 1.50. The business has a 50-day simple moving average of $163.54 and a 200 day simple moving average of $166.26. Nexstar Media Group has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

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

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Insider Activity

In other news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Blake Russell sold 433 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Insiders have sold a total of 6,826 shares of company stock valued at $1,080,597 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 177 shares during the period. First United Bank & Trust bought a new stake in Nexstar Media Group during the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. increased its holdings in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora purchased a new position in Nexstar Media Group in the 4th quarter worth approximately $45,000. Finally, Quadrant Capital Group LLC grew its stake in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.