Nexstar Media Group, Inc. (NASDAQ:NXST) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $268.3333.

Several equities analysts recently commented on NXST shares. Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, March 3rd. Finally, Benchmark lowered their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $205.46 on Thursday. The stock’s 50-day simple moving average is $220.44 and its 200 day simple moving average is $207.49. The firm has a market capitalization of $6.23 billion, a PE ratio of 69.88, a price-to-earnings-growth ratio of 0.79 and a beta of 0.93. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $254.30.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is presently 253.06%.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in NXST. Integrated Wealth Concepts LLC bought a new stake in Nexstar Media Group during the 1st quarter worth approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nexstar Media Group by 49.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after acquiring an additional 5,251 shares during the last quarter. Millennium Management LLC grew its holdings in Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after acquiring an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nexstar Media Group by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after acquiring an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Nexstar Media Group during the 1st quarter worth approximately $654,000. 95.30% of the stock is owned by institutional investors.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.