Shares of Nexstar Media Group Inc (NASDAQ:NXST) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $77.83.

A number of research analysts have commented on NXST shares. Royal Bank of Canada started coverage on shares of Nexstar Media Group in a research report on Tuesday, March 14th. They set an “outperform” rating and a $83.00 price target on the stock. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, May 5th. Jefferies Group LLC reiterated a “buy” rating and set a $80.00 price target (up from $60.00) on shares of Nexstar Media Group in a research report on Friday, March 3rd. Wedbush increased their price target on shares of Nexstar Media Group from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Finally, Benchmark Co. reiterated a “buy” rating and set a $89.00 price target (up from $70.00) on shares of Nexstar Media Group in a research report on Wednesday, March 1st.

In other news, Director John R. Muse sold 5,516 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $70.06, for a total value of $386,450.96. Following the transaction, the director now owns 7,405 shares in the company, valued at $518,794.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth Ryder sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the transaction, the executive vice president now owns 3,210 shares in the company, valued at approximately $224,700. The disclosure for this sale can be found here. Insiders sold 66,980 shares of company stock worth $4,722,843 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC boosted its position in shares of Nexstar Media Group by 4.3% in the first quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock valued at $351,000 after buying an additional 207 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Nexstar Media Group by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,630 shares of the company’s stock valued at $465,000 after buying an additional 311 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Nexstar Media Group by 1.2% in the third quarter. Teachers Advisors LLC now owns 48,119 shares of the company’s stock valued at $2,777,000 after buying an additional 569 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Nexstar Media Group by 1.0% in the third quarter. California State Teachers Retirement System now owns 63,198 shares of the company’s stock valued at $3,647,000 after buying an additional 600 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Nexstar Media Group by 48.4% in the first quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock valued at $185,000 after buying an additional 859 shares in the last quarter.

Nexstar Media Group (NASDAQ:NXST) opened at 57.50 on Friday. The firm has a market capitalization of $2.71 billion, a PE ratio of 26.71 and a beta of 2.22. Nexstar Media Group has a 12 month low of $44.75 and a 12 month high of $73.90. The stock has a 50 day moving average of $64.02 and a 200 day moving average of $64.41.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.71. Nexstar Media Group had a net margin of 9.39% and a return on equity of 64.45%. The business had revenue of $540.32 million for the quarter, compared to analysts’ expectations of $525.76 million. During the same period last year, the business earned $0.69 earnings per share. The business’s quarterly revenue was up 111.3% on a year-over-year basis. On average, equities analysts predict that Nexstar Media Group will post $3.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, May 10th. Nexstar Media Group’s dividend payout ratio is 38.59%.

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Nexstar Media Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

12 Month Chart for NASDAQ:NXST

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