BlackRock Inc. grew its position in Nexstar Media Group Inc (NASDAQ:NXST) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,107,402 shares of the company’s stock after buying an additional 48,067 shares during the quarter. BlackRock Inc. owned approximately 6.81% of Nexstar Media Group worth $244,367,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in NXST. Penserra Capital Management LLC acquired a new position in shares of Nexstar Media Group in the fourth quarter worth about $28,000. Bank of Montreal Can boosted its holdings in shares of Nexstar Media Group by 35.4% in the fourth quarter. Bank of Montreal Can now owns 1,228 shares of the company’s stock worth $96,000 after buying an additional 321 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Nexstar Media Group in the fourth quarter worth about $157,000. Engineers Gate Manager LP acquired a new position in shares of Nexstar Media Group in the third quarter worth about $204,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new position in shares of Nexstar Media Group in the third quarter worth about $217,000.
NXST stock opened at $106.59 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.08. The company has a market cap of $4.91 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.58 and a beta of 1.56. Nexstar Media Group Inc has a 52 week low of $60.30 and a 52 week high of $108.32.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.54 by ($0.32). The company had revenue of $798.02 million for the quarter, compared to analyst estimates of $787.00 million. Nexstar Media Group had a return on equity of 23.72% and a net margin of 14.08%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.97 earnings per share. As a group, analysts anticipate that Nexstar Media Group Inc will post 6.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were issued a dividend of $0.45 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Thursday, February 7th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 21.08%.
NXST has been the subject of several research reports. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Saturday, November 17th. Gabelli initiated coverage on shares of Nexstar Media Group in a report on Tuesday, November 27th. They set a “buy” rating for the company. BidaskClub cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Barrington Research restated a “buy” rating on shares of Nexstar Media Group in a report on Monday, December 3rd. Finally, Benchmark restated a “buy” rating and set a $115.00 price target (up from $96.00) on shares of Nexstar Media Group in a report on Tuesday, December 4th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $108.88.
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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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