Nexstar Media Group, Inc. (NASDAQ:NXST) Receives $204.29 Consensus Price Target from Brokerages

Nexstar Media Group, Inc. (NASDAQ:NXST) has recently received a consensus rating of "Moderate Buy" from a total of seven analysts who are currently covering the stock, according to reports from Marketbeat Ratings. Out of these analysts, one has provided a "hold" recommendation, while six have given the stock a "buy" rating. The average one-year target price assigned by these analysts is $204.29.

Nexstar Media Group has been the focus of several recent research reports. For example, Loop Capital downgraded shares of Nexstar from a "buy" to a "hold" rating, adjusting their price target down from $200.00 to $190.00 in a report dated November 8th. On the same day, StockNews.com upgraded the stock from a "hold" rating to a "buy" rating. Additionally, Barrington Research maintained an "outperform" rating and set a target price of $200.00. Benchmark also reiterated a "buy" rating and adjusted their price target to $215.00. In contrast, Guggenheim revised their price objective from $200.00 to $198.00, while keeping a "buy" rating for the stock in their report from October 4th.

Nexstar Media Group Current Trading Status

As of the last trading session, shares of Nexstar Media Group opened at $159.14. Key financial ratios reveal a quick ratio of 1.68, a current ratio of 1.68, and a debt-to-equity ratio of 2.98. The stock is experiencing a 50-day moving average of $168.39 and a 200-day moving average of $167.47. Over the past year, the stock has ranged between a low of $147.25 and a high of $191.86. Nexstar has a market capitalization of approximately $4.94 billion, a price-to-earnings (P/E) ratio standing at 9.20, a price/earnings to growth (PEG) ratio of 0.20, and a beta of 1.45.

Recent Earnings Results

Nexstar Media Group last released its quarterly earnings report on November 7th, showing earnings per share (EPS) of $5.27, which was below the expected consensus of $5.51 by $0.24. The company's revenue for the quarter was reported at $1.37 billion, aligning with analyst expectations. Notably, Nexstar posted a net margin of 11.39% and a return on equity of 26.03%. When compared to the same quarter from the previous year, Nexstar's revenue grew by 20.7%, with the prior year recording an EPS of $0.70. Analysts are currently estimating an average EPS of 24.53 for the ongoing fiscal year.

Dividend Announcement from Nexstar Media Group

The company recently declared a quarterly dividend that was paid out on November 29th. Shareholders who were on record as of November 15th received a dividend of $1.69 per share, leading to an annualized dividend of $6.76 and a yield of 4.25%. The company's dividend payout ratio currently stands at 39.10%.

Insider Transactions and Investor Activity

Recent transactions by Nexstar's insiders include Director Bernadette S. Aulestia selling 500 shares at an average price of $164.45 on December 11th, totaling $82,225. Post-sale, she holds 2,000 shares valued at approximately $328,900, marking a 20.00% decrease in her stake. Similarly, CEO Perry A. Sook sold 37,025 shares on December 26th at an average price of $160.14, amounting to $5,929,183.50. Following this transaction, he now owns 674,694 shares valued at around $108,045,497.16, reflecting a 5.20% decrease in ownership. In total, insiders sold 146,448 shares worth $23,828,076 over the last quarter, and currently, corporate insiders hold about 6.30% of the company's stock.

Institutional Investor Transactions

Several institutional investors have recently engaged with Nexstar Media Group stocks. Brooklyn Investment Group acquired a new stake valued at about $25,000 in the third quarter. Whittier Trust Co. also established a stake worth approximately $27,000 earlier in the second quarter. True Wealth Design LLC took a new position valued at around $30,000 in the same quarter, while Wilmington Savings Fund Society FSB invested approximately $33,000. Notably, Allspring Global Investments Holdings LLC increased their position by 3,700.0%, now owning 266 shares valued at $44,000 after purchasing an additional 259 shares. Overall, institutional investors currently hold about 95.30% of Nexstar's shares.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media organization involved in producing and distributing local and national news, sports, and entertainment content through various television and digital platforms across the United States. The company manages, operates, and provides programming services to various markets, along with offering television programming services.

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