Wolfe Research began coverage on shares of Nexstar Media Group (NASDAQ:NXST) in a report published on Friday, The Fly reports. The brokerage issued an outperform rating on the stock.

Several other brokerages also recently issued reports on NXST. Benchmark reiterated a buy rating and issued a $115.00 target price (up from $96.00) on shares of Nexstar Media Group in a research note on Tuesday. Stephens raised their target price on shares of Nexstar Media Group from $94.00 to $105.00 and gave the company an overweight rating in a research note on Tuesday. BidaskClub upgraded shares of Nexstar Media Group from a hold rating to a buy rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Nexstar Media Group from a hold rating to a buy rating and set a $91.00 target price for the company in a research note on Saturday, December 1st. Finally, Barrington Research reiterated a buy rating on shares of Nexstar Media Group in a research note on Monday, December 3rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $95.80.

Nexstar Media Group stock traded down $1.19 during mid-day trading on Friday, hitting $85.30. 579,269 shares of the company’s stock were exchanged, compared to its average volume of 723,435. The company has a market capitalization of $3.95 billion, a PE ratio of 21.43, a PEG ratio of 1.03 and a beta of 1.75. Nexstar Media Group has a fifty-two week low of $60.30 and a fifty-two week high of $89.75. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 2.34.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.15. Nexstar Media Group had a net margin of 23.45% and a return on equity of 19.12%. The business had revenue of $693.00 million during the quarter, compared to the consensus estimate of $676.34 million. During the same period last year, the business posted $0.98 EPS. Nexstar Media Group’s revenue was up 13.3% on a year-over-year basis. Analysts predict that Nexstar Media Group will post 8.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.76%. Nexstar Media Group’s payout ratio is 37.69%.

In related news, EVP Elizabeth Ryder sold 7,392 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $81.02, for a total value of $598,899.84. Following the transaction, the executive vice president now directly owns 12,827 shares of the company’s stock, valued at $1,039,243.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisbeth Mcnabb sold 1,400 shares of Nexstar Media Group stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $80.70, for a total transaction of $112,980.00. Following the completion of the transaction, the director now directly owns 1,725 shares in the company, valued at $139,207.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,925 shares of company stock valued at $1,954,553. 6.40% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Nexstar Media Group by 2.7% in the third quarter. Vanguard Group Inc. now owns 3,828,010 shares of the company’s stock valued at $311,601,000 after acquiring an additional 100,149 shares during the last quarter. Nordea Investment Management AB increased its stake in Nexstar Media Group by 23.6% in the third quarter. Nordea Investment Management AB now owns 60,435 shares of the company’s stock valued at $4,920,000 after acquiring an additional 11,527 shares during the last quarter. Teachers Advisors LLC increased its stake in Nexstar Media Group by 2.7% in the third quarter. Teachers Advisors LLC now owns 86,074 shares of the company’s stock valued at $7,006,000 after acquiring an additional 2,302 shares during the last quarter. Macquarie Group Ltd. bought a new position in Nexstar Media Group in the third quarter valued at approximately $15,972,000. Finally, Lowe Brockenbrough & Co. Inc. bought a new position in Nexstar Media Group in the third quarter valued at approximately $217,000.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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