Investment Analysts’ Recent Ratings Updates for Nexstar Media Group (NXST)

Posted by Christopher Mengel on Nov 12th, 2024

Nexstar Media Group (NASDAQ: NXST) recently received a number of ratings updates from brokerages and research firms:

11/8/2024 – Nexstar Media Group was downgraded by analysts at Loop Capital from a “buy” rating to a “hold” rating. They now have a $190.00 price target on the stock, down previously from $200.00.
11/8/2024 – Nexstar Media Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
11/8/2024 – Nexstar Media Group had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $215.00 price target on the stock.
11/7/2024 – Nexstar Media Group had its “outperform” rating reaffirmed by analysts at Barrington Research. They now have a $200.00 price target on the stock.
10/14/2024 – Nexstar Media Group had its price target lowered by analysts at Benchmark Co. from $225.00 to $215.00. They now have a “buy” rating on the stock.
10/4/2024 – Nexstar Media Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
10/4/2024 – Nexstar Media Group had its price target lowered by analysts at Guggenheim from $200.00 to $198.00. They now have a “buy” rating on the stock.
9/26/2024 – Nexstar Media Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
9/17/2024 – Nexstar Media Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Nexstar Media Group Price Performance

NASDAQ:NXST traded up $4.97 during mid-day trading on Monday, reaching $171.01. The stock had a trading volume of 511,302 shares, compared to its average volume of 329,395. Nexstar Media Group, Inc. has a 12 month low of $140.92 and a 12 month high of $191.86. The stock has a market capitalization of $5.52 billion, a PE ratio of 9.89, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a 50-day simple moving average of $168.54 and a two-hundred day simple moving average of $167.06.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 25.72% and a net margin of 11.39%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.95%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insiders Place Their Bets

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the sale, the insider now owns 5,216 shares in the company, valued at approximately $859,596.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock valued at $6,887,029 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares during the period. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares during the period. Copeland Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $92,323,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after acquiring an additional 2,145 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.