Benchmark Lowers Nexstar Media Group (NASDAQ:NXST) Price Target to $215.00

by · The Markets Daily

Nexstar Media Group (NASDAQ:NXST – Free Report) had its price target trimmed by Benchmark from $225.00 to $215.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

NXST has been the topic of several other research reports. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Read Our Latest Analysis on Nexstar Media Group

Nexstar Media Group Trading Up 0.2 %

Shares of NXST stock opened at $172.33 on Monday. The business has a 50-day moving average price of $165.61 and a two-hundred day moving average price of $165.83. Nexstar Media Group has a 12-month low of $133.55 and a 12-month high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a market cap of $5.68 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 3.92%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Activity

In related news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now directly owns 54,625 shares in the company, valued at $9,324,487.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,112 shares of company stock valued at $6,887,029. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Nexstar Media Group

Hedge funds have recently made changes to their positions in the stock. CX Institutional increased its position in Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after buying an additional 67 shares in the last quarter. Granite Group Advisors LLC increased its holdings in shares of Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after acquiring an additional 72 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Nexstar Media Group by 0.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after purchasing an additional 87 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Nexstar Media Group by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after purchasing an additional 107 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Company Profile

(Get Free Report)

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.

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