Guggenheim Reiterates $88.00 Price Target for Nexstar Media Group (NXST)

Guggenheim set a $88.00 target price on Nexstar Media Group (NASDAQ:NXST) in a research report released on Wednesday. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on NXST. Royal Bank of Canada reiterated a buy rating and set a $95.00 price target on shares of Nexstar Media Group in a research report on Thursday, January 4th. BidaskClub upgraded shares of Nexstar Media Group from a hold rating to a buy rating in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Nexstar Media Group from a buy rating to a hold rating in a research report on Tuesday, October 24th. Noble Financial reiterated a buy rating on shares of Nexstar Media Group in a research report on Thursday, December 21st. Finally, Benchmark reiterated a buy rating and set a $94.00 price target on shares of Nexstar Media Group in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $86.90.

Shares of Nexstar Media Group (NXST) opened at $73.25 on Wednesday. Nexstar Media Group has a 12-month low of $55.95 and a 12-month high of $82.95. The stock has a market cap of $3,300.00, a PE ratio of 27.43, a P/E/G ratio of 0.71 and a beta of 1.83. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a $0.375 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, February 15th. This represents a $1.50 annualized dividend and a dividend yield of 2.05%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 56.18%.

In other news, SVP Blake Russell sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $78.31, for a total value of $1,566,200.00. Following the completion of the transaction, the senior vice president now owns 42,861 shares of the company’s stock, valued at $3,356,444.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Michael Vaughn sold 2,210 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $66.79, for a total transaction of $147,605.90. Following the completion of the transaction, the insider now directly owns 9,750 shares of the company’s stock, valued at approximately $651,202.50. The disclosure for this sale can be found here. In the last three months, insiders sold 37,610 shares of company stock valued at $2,931,684. Insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $132,000. Victory Capital Management Inc. purchased a new position in shares of Nexstar Media Group in the third quarter valued at approximately $172,000. Advisor Group Inc. boosted its stake in shares of Nexstar Media Group by 86.5% in the fourth quarter. Advisor Group Inc. now owns 2,331 shares of the company’s stock valued at $183,000 after purchasing an additional 1,081 shares during the period. Zeke Capital Advisors LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $225,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $237,000.

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About Nexstar Media Group

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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Guggenheim Reiterates $88.00 Price Target for Nexstar Media Group (NXST)

Guggenheim set a $88.00 price target on Nexstar Media Group (NASDAQ:NXST) in a research note released on Wednesday. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Benchmark reiterated a buy rating and issued a $94.00 price target on shares of Nexstar Media Group 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 $82.00 price target for the company in a research note on Wednesday. BidaskClub downgraded shares of Nexstar Media Group from a buy rating to a hold rating in a research note on Thursday, January 25th. Royal Bank of Canada reiterated a buy rating and issued a $95.00 price target on shares of Nexstar Media Group in a research note on Thursday, January 4th. Finally, Wells Fargo & Co reiterated an outperform rating and issued a $102.00 price target (up previously from $93.00) on shares of Nexstar Media Group in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Nexstar Media Group currently has a consensus rating of Buy and a consensus price target of $86.90.

Nexstar Media Group (NASDAQ:NXST) opened at $73.25 on Wednesday. Nexstar Media Group has a 12 month low of $55.95 and a 12 month high of $82.95. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. The stock has a market cap of $3,300.00, a P/E ratio of 27.43, a P/E/G ratio of 0.71 and a beta of 1.83.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, February 15th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.30. Nexstar Media Group’s payout ratio is currently 56.18%.

In other news, insider Gary Michael Vaughn sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $71.32, for a total transaction of $28,528.00. Following the completion of the sale, the insider now owns 7,140 shares in the company, valued at approximately $509,224.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisbeth Mcnabb sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $79.61, for a total transaction of $398,050.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $398,050. The disclosure for this sale can be found here. Insiders have sold a total of 37,610 shares of company stock valued at $2,931,684 in the last 90 days. Insiders own 7.80% of the company’s stock.

Several large investors have recently modified their holdings of NXST. Nationwide Fund Advisors lifted its position in shares of Nexstar Media Group by 6.4% during the 2nd quarter. Nationwide Fund Advisors now owns 27,543 shares of the company’s stock worth $1,647,000 after buying an additional 1,659 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Nexstar Media Group by 0.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock worth $1,394,000 after buying an additional 131 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Nexstar Media Group by 15.5% during the 2nd quarter. Voya Investment Management LLC now owns 20,879 shares of the company’s stock worth $1,249,000 after buying an additional 2,802 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Nexstar Media Group by 33.3% during the 2nd quarter. Macquarie Group Ltd. now owns 24,352 shares of the company’s stock worth $1,456,000 after buying an additional 6,083 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Nexstar Media Group by 4.5% during the 2nd quarter. State Street Corp now owns 866,039 shares of the company’s stock worth $51,791,000 after buying an additional 37,041 shares during the last quarter.

TRADEMARK VIOLATION WARNING: This piece was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://stocknewstimes.com/2018/02/18/guggenheim-reiterates-88-00-price-target-for-nexstar-media-group-nxst.html.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.

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