Nexstar Media Group’s (NXST) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Nexstar Media Group (NASDAQ:NXST) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $200.00 price target on the stock.

NXST has been the subject of several other reports. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Guggenheim decreased their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark lowered their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Stock Down 11.9 %

Shares of NXST traded down $22.46 on Thursday, hitting $166.04. The company’s stock had a trading volume of 1,148,413 shares, compared to its average volume of 278,403. 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 capitalization of $5.36 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 0.21 and a beta of 1.48. The firm’s fifty day moving average price is $168.54 and its 200-day moving average price is $166.97. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities research analysts expect that Nexstar Media Group will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the transaction, the director now directly owns 54,625 shares in the company, valued at $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Lee Ann Gliha sold 984 shares of the business’s 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 sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay M. Grossman sold 10,000 shares of the firm’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 transaction, the director now directly owns 54,625 shares in the company, valued at approximately $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. Insiders have sold 41,112 shares of company stock worth $6,887,029 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Nexstar Media Group during the 1st quarter worth $2,111,000. BNP Paribas Financial Markets increased its position in shares of Nexstar Media Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock worth $5,235,000 after purchasing an additional 16,338 shares during the period. Texas Permanent School Fund Corp lifted its position in Nexstar Media Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 28,211 shares of the company’s stock worth $4,860,000 after purchasing an additional 379 shares during the period. Quantbot Technologies LP acquired a new stake in Nexstar Media Group during the first quarter worth about $702,000. Finally, Empowered Funds LLC increased its holdings in Nexstar Media Group by 13.0% in the 1st quarter. Empowered Funds LLC now owns 21,624 shares of the company’s stock valued at $3,726,000 after buying an additional 2,481 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

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.