Nexstar Media Group (NASDAQ:NXST) Price Target Raised to $250.00

Nexstar Media Group (NASDAQ:NXST) had its price target increased by Deutsche Bank Aktiengesellschaft from $225.00 to $250.00 in a research note issued to investors on Tuesday,MarketScreener reports. They currently have a buy rating on the stock.

Several other research firms have also commented on NXST. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.50.

Nexstar Media Group Stock Down 2.2%

Shares of Nexstar Media Group stock opened at $235.28 on Tuesday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.91 and a beta of 0.85. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $254.30. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The business’s 50 day simple moving average is $210.27 and its 200-day simple moving average is $201.26.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $1.86 dividend. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio (DPR) is 46.13%.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently added to or reduced their stakes in the company. Dorsal Capital Management LP purchased a new position in shares of Nexstar Media Group in the third quarter worth approximately $74,152,000. AQR Capital Management LLC boosted its stake in Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the period. Norges Bank purchased a new position in Nexstar Media Group during the 2nd quarter worth approximately $46,461,000. JPMorgan Chase & Co. raised its stake in Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Nexstar Media Group during the 3rd quarter valued at $40,023,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.