Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Average Rating of “Buy” from Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have earned an average rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $259.6667.

A number of equities research analysts have recently commented on NXST shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $195.39 on Monday. The company has a market cap of $5.97 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 0.59 and a beta of 0.97. Nexstar Media Group has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 2.07. The company has a 50-day simple moving average of $208.01 and a 200-day simple moving average of $208.09.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently modified their holdings of the stock. Torren Management LLC acquired a new position in Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $31,000. WPG Advisers LLC raised its stake in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

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.