Nexstar Media Group (NASDAQ:NXST) Given New $220.00 Price Target at Guggenheim

Nexstar Media Group (NASDAQ:NXST) had its price target boosted by Guggenheim from $210.00 to $220.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $190.00 to $200.00 in a research report on Friday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus 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. Nexstar Media Group has a twelve month low of $146.04 and a twelve month high of $191.86. The firm has a market cap of $5.25 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business has a fifty day moving average of $155.08 and a 200-day moving average of $163.29.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results 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. On average, equities research analysts predict that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

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

Insider Activity

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

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the third quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Nexstar Media Group during the fourth quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in Nexstar Media Group during the third quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group in the third quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP bought a new stake in Nexstar Media Group in the third quarter worth approximately $44,000. Institutional investors and hedge funds 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.