Nexstar Media Group (NXST) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN. “

NXST has been the subject of several other reports. B. Riley lifted their price target on Nexstar Media Group from $123.00 to $135.00 and gave the company a buy rating in a research report on Wednesday, March 6th. ValuEngine upgraded Nexstar Media Group from a hold rating to a buy rating in a research report on Thursday, February 28th. BidaskClub cut Nexstar Media Group from a buy rating to a hold rating in a research report on Thursday, January 31st. Benchmark reiterated a buy rating and issued a $120.00 price target (up from $115.00) on shares of Nexstar Media Group in a research report on Thursday, March 21st. Finally, Barrington Research reiterated a buy rating and issued a $110.00 price target on shares of Nexstar Media Group in a research report on Tuesday, February 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $113.13.

NASDAQ:NXST opened at $106.45 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.73 and a quick ratio of 1.73. Nexstar Media Group has a 1 year low of $65.20 and a 1 year high of $119.93. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.66 and a beta of 1.58.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The firm had revenue of $626.65 million during the quarter, compared to analysts’ expectations of $640.35 million. During the same period in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Nexstar Media Group will post 6.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s payout ratio is 21.08%.

In related news, Director Dennis Miller sold 3,125 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $108.61, for a total transaction of $339,406.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pompadur sold 1,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $104.60, for a total value of $104,600.00. Following the transaction, the director now owns 8,875 shares of the company’s stock, valued at $928,325. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,573 shares of company stock valued at $5,142,132. 6.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of NXST. Legacy Bridge LLC purchased a new position in Nexstar Media Group during the first quarter worth about $26,000. Penserra Capital Management LLC purchased a new position in Nexstar Media Group during the fourth quarter worth about $28,000. Rockefeller Capital Management L.P. grew its position in Nexstar Media Group by 260.6% during the first quarter. Rockefeller Capital Management L.P. now owns 375 shares of the company’s stock worth $40,000 after buying an additional 271 shares in the last quarter. Private Capital Group LLC lifted its stake in Nexstar Media Group by 46.3% during the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock worth $42,000 after purchasing an additional 124 shares during the last quarter. Finally, Synovus Financial Corp bought a new stake in Nexstar Media Group during the first quarter worth about $54,000.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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