Brokerages Set Nexstar Media Group, Inc. (NASDAQ:NXST) Price Target at $222.38

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $222.3750.

A number of equities research analysts recently commented on NXST shares. Citigroup cut their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th.

Nexstar Media Group Trading Down 1.5%

Shares of NASDAQ:NXST opened at $209.13 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $6.34 billion, a PE ratio of 12.97, a P/E/G ratio of 0.81 and a beta of 0.85. The business’s fifty day simple moving average is $204.27 and its 200-day simple moving average is $199.16. Nexstar Media Group has a 12-month low of $141.66 and a 12-month high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.27 earnings per share. As a group, equities research analysts predict that Nexstar Media Group will post 21.62 earnings per share for the current fiscal 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. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, February 13th. Nexstar Media Group’s payout ratio is presently 46.13%.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC lifted its holdings in shares of Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after buying an additional 51 shares during the period. Claret Asset Management Corp raised its holdings in Nexstar Media Group by 4.1% during the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after buying an additional 53 shares during the period. Merit Financial Group LLC lifted its stake in Nexstar Media Group by 1.6% during the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after buying an additional 56 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after buying an additional 56 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in Nexstar Media Group by 0.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares during the period. 95.30% of the stock is owned by institutional investors.

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.