StockNews.com Lowers Nexstar Media Group (NASDAQ:NXST) to Hold

StockNews.com cut shares of Nexstar Media Group (NASDAQ:NXST) from a buy rating to a hold rating in a report released on Friday morning.

A number of other brokerages have also weighed in on NXST. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $221.00 to $209.00 and set an overweight rating on the stock in a report on Friday, August 9th. Benchmark restated a buy rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a buy rating for the company in a research note on Friday, August 9th. Finally, Barrington Research reissued an outperform rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of Moderate Buy and a consensus target price of $201.14.

Nexstar Media Group Trading Up 1.0 %

NASDAQ NXST opened at $164.25 on Friday. The company has a market capitalization of $5.41 billion, a PE ratio of 13.90, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The company has a fifty day moving average of $167.12 and a 200 day moving average of $165.88. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $2.64 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast that Nexstar Media Group will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insider Buying and Selling

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its stake in Nexstar Media Group by 28.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 9,130 shares of the company’s stock valued at $1,510,000 after acquiring an additional 2,000 shares during the last quarter. Davis Capital Management raised its stake in shares of Nexstar Media Group by 6.4% during the third quarter. Davis Capital Management now owns 6,148 shares of the company’s stock worth $1,017,000 after purchasing an additional 372 shares during the last quarter. Delphi Management Inc. MA raised its stake in shares of Nexstar Media Group by 2.9% during the second quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after purchasing an additional 286 shares during the last quarter. Founders Financial Alliance LLC lifted its holdings in shares of Nexstar Media Group by 21.5% during the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock worth $490,000 after purchasing an additional 522 shares during the period. Finally, Truist Financial Corp grew its position in Nexstar Media Group by 5.2% in the 2nd quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock valued at $1,616,000 after buying an additional 482 shares during the last quarter. Institutional investors and hedge funds 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.