Zacks Investment Research upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a sell rating to a hold rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN. “

A number of other research analysts also recently weighed in on the company. Benchmark reiterated a buy rating and set a $120.00 target price (up previously from $115.00) on shares of Nexstar Media Group in a report on Thursday, March 21st. B. Riley set a $139.00 target price on Nexstar Media Group and gave the stock a buy rating in a report on Tuesday, May 14th. Barrington Research reiterated a buy rating and set a $135.00 target price on shares of Nexstar Media Group in a report on Monday, May 13th. BidaskClub downgraded Nexstar Media Group from a strong-buy rating to a buy rating in a report on Friday, May 3rd. Finally, ValuEngine upgraded Nexstar Media Group from a hold rating to a buy rating in a report on Thursday, February 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $113.13.

Shares of NASDAQ:NXST opened at $106.45 on Thursday. Nexstar Media Group has a 1 year low of $65.20 and a 1 year high of $119.93. The stock has a market cap of $4.91 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.66 and a beta of 1.58. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The business had revenue of $626.65 million for the quarter, compared to analysts’ expectations of $640.35 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Nexstar Media Group will post 6.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. Nexstar Media Group’s payout ratio is currently 21.08%.

In related news, EVP Brett Jenkins sold 823 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $108.01, for a total value of $88,892.23. Following the sale, the executive vice president now owns 14,926 shares in the company, valued at approximately $1,612,157.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Carter sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $108.23, for a total value of $270,575.00. Following the completion of the sale, the chief financial officer now owns 100,689 shares in the company, valued at approximately $10,897,570.47. The disclosure for this sale can be found here. Insiders sold a total of 48,573 shares of company stock worth $5,142,132 in the last 90 days. 6.40% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of NXST. Windacre Partnership LLC grew its stake in shares of Nexstar Media Group by 92.2% in the 4th quarter. Windacre Partnership LLC now owns 2,524,900 shares of the company’s stock worth $198,558,000 after buying an additional 1,210,900 shares during the last quarter. Baupost Group LLC MA purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $74,708,000. FMR LLC grew its stake in shares of Nexstar Media Group by 29.7% in the 4th quarter. FMR LLC now owns 2,470,878 shares of the company’s stock worth $194,310,000 after buying an additional 565,758 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Nexstar Media Group by 855.1% in the 1st quarter. Renaissance Technologies LLC now owns 509,105 shares of the company’s stock worth $55,172,000 after buying an additional 455,800 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $32,936,000.

Nexstar Media Group Company Profile

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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