Nexstar Media Group (NASDAQ:NXST) Price Target Lowered to $198.00 at Guggenheim

Nexstar Media Group (NASDAQ:NXST) had its price target decreased by Guggenheim from $200.00 to $198.00 in a research report report published on Friday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a buy rating for the company in a research note on Friday, August 9th. Barrington Research reiterated an outperform rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark reissued a buy rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company decreased their price target on shares of 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. Finally, StockNews.com lowered Nexstar Media Group from a buy rating to a hold rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $201.14.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $163.45 on Friday. Nexstar Media Group has a 1-year low of $133.55 and a 1-year high of $187.27. The company has a market capitalization of $5.38 billion, a P/E ratio of 13.83, a PEG ratio of 0.19 and a beta of 1.49. The business has a 50 day moving average price of $166.74 and a 200 day moving average price of $165.85. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 EPS. Sell-side analysts expect that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other news, 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 directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Michael Biard sold 2,458 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $169.28, for a total value of $416,090.24. Following the transaction, the chief operating officer now owns 3,792 shares of the company’s stock, valued at $641,909.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock valued at $6,887,029 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds have recently made changes to their positions in NXST. Personal CFO Solutions LLC boosted its holdings in shares of Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after buying an additional 202 shares during the period. Chicago Partners Investment Group LLC bought a new position in Nexstar Media Group during the fourth quarter worth $232,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Nexstar Media Group in the 1st quarter valued at $2,111,000. Vanguard Group Inc. increased its holdings in 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 buying an additional 127,783 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Nexstar Media Group by 116.3% in the 1st quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock valued at $5,235,000 after buying an additional 16,338 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

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.