Nexstar Media Group (NXST) Lowered to “Hold” at Noble Financial

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Noble Financial lowered shares of Nexstar Media Group (NASDAQ:NXST) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports.

Other research analysts have also recently issued reports about the stock. Barrington Research reissued a buy rating and issued a $105.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, May 9th. BidaskClub raised shares of Nexstar Media Group from a strong sell rating to a sell rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Nexstar Media Group from a hold rating to a buy rating in a research note on Wednesday, July 11th. Jefferies Financial Group reissued a buy rating and issued a $87.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, July 24th. Finally, Evercore ISI assumed coverage on shares of Nexstar Media Group in a research note on Tuesday, July 31st. They issued an in-line rating and a $87.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Nexstar Media Group presently has an average rating of Buy and a consensus target price of $89.67.

Shares of NXST opened at $79.15 on Monday. Nexstar Media Group has a 12 month low of $56.65 and a 12 month high of $89.75. The company has a market cap of $3.48 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.88. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.59.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Wednesday, August 8th. The company reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. The company had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $657.92 million. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. equities analysts predict that Nexstar Media Group will post 8.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Friday, August 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 1.90%. Nexstar Media Group’s dividend payout ratio (DPR) is 37.69%.

In other Nexstar Media Group news, insider Brian Jones sold 2,238 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $70.70, for a total transaction of $158,226.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas Davis sold 1,875 shares of the business’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $77.41, for a total transaction of $145,143.75. Following the sale, the insider now directly owns 683 shares in the company, valued at approximately $52,871.03. The disclosure for this sale can be found here. Insiders sold 7,751 shares of company stock worth $569,432 over the last three months. 6.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in shares of Nexstar Media Group by 13.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 274,260 shares of the company’s stock worth $18,239,000 after buying an additional 33,240 shares during the last quarter. Hodges Capital Management Inc. grew its stake in shares of Nexstar Media Group by 100.0% during the second quarter. Hodges Capital Management Inc. now owns 30,000 shares of the company’s stock worth $2,202,000 after buying an additional 15,000 shares during the last quarter. First National Bank of Omaha grew its stake in shares of Nexstar Media Group by 15.9% during the first quarter. First National Bank of Omaha now owns 27,275 shares of the company’s stock worth $1,814,000 after buying an additional 3,734 shares during the last quarter. Swiss National Bank grew its stake in shares of Nexstar Media Group by 2.5% during the first quarter. Swiss National Bank now owns 76,460 shares of the company’s stock worth $5,085,000 after buying an additional 1,900 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Nexstar Media Group by 8.8% during the first quarter. Baird Financial Group Inc. now owns 26,194 shares of the company’s stock worth $1,742,000 after buying an additional 2,121 shares during the last quarter.

About Nexstar Media Group

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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