Nexstar Media Group (NASDAQ:NXST) Trading 12.2% Higher – Here’s What Happened

Nexstar Media Group, Inc. (NASDAQ:NXST) rose 12.2% during trading on Monday . The stock traded as high as $253.16 and last traded at $248.1870. Approximately 177,635 shares were traded during trading, a decline of 44% from the average daily volume of 318,272 shares. The stock had previously closed at $221.27.

Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Citigroup reduced their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.38.

Nexstar Media Group Price Performance

The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. The company’s 50 day simple moving average is $206.19 and its 200 day simple moving average is $200.00. The company has a market capitalization of $7.28 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $5.27 EPS. The company’s quarterly revenue was down 12.3% on a year-over-year basis. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.1%. Nexstar Media Group’s payout ratio is 46.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NXST. Torren Management LLC purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $28,000. IFP Advisors Inc raised its position in Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Nexstar Media Group in the 3rd quarter valued at $31,000. Finally, WPG Advisers LLC grew its position in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.