Nexstar Media Group (NASDAQ:NXST) Price Target Raised to $220.00 at Guggenheim

Nexstar Media Group (NASDAQ:NXST) had its price target raised by Guggenheim from $210.00 to $220.00 in a research note published on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

NXST has been the topic of several other reports. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a report on Friday. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $210.29.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $169.15 on Friday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group has a 1-year low of $146.04 and a 1-year high of $191.86. The business has a 50-day moving average price of $155.08 and a two-hundred day moving average price of $163.29. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Equities analysts predict that Nexstar Media Group will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.40%. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

Insider Activity at Nexstar Media Group

In other news, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the transaction, the director now owns 5,752 shares in the company, valued at $989,344. This trade represents a 13.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,493 shares of company stock worth $20,354,366 in the last ninety days. 6.30% of the stock is owned by company insiders.

Institutional Trading of Nexstar Media Group

Several large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Mariner LLC grew its stake in shares of Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after buying an additional 115 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in Nexstar Media Group by 7.3% in the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock worth $273,000 after purchasing an additional 117 shares in the last quarter. Institutional investors 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.