Nexstar Media Group (NASDAQ:NXST) Price Target Raised to $252.00

Nexstar Media Group (NASDAQ:NXST) had its price target increased by Citigroup from $204.00 to $252.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also weighed in on the stock. Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Benchmark upped their price target on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Wells Fargo & Company boosted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $267.43.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $245.53 on Monday. The company has a market cap of $7.45 billion, a P/E ratio of 83.51, a P/E/G ratio of 0.95 and a beta of 0.79. The business has a fifty day simple moving average of $220.27 and a 200-day simple moving average of $205.67. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 3.05.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.0%. Nexstar Media Group’s payout ratio is presently 253.06%.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently modified their holdings of NXST. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $167,000. Cross Staff Investments Inc acquired a new stake in Nexstar Media Group in the fourth quarter valued at approximately $203,000. Compound Planning Inc. purchased a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $252,000. Corient Private Wealth LLC raised its stake in shares of Nexstar Media Group by 1,595.7% during the fourth quarter. Corient Private Wealth LLC now owns 114,813 shares of the company’s stock valued at $23,313,000 after purchasing an additional 108,042 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Nexstar Media Group by 27.8% during the fourth quarter. Vident Advisory LLC now owns 12,529 shares of the company’s stock worth $2,544,000 after purchasing an additional 2,729 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.