Nexstar Media Group (NXST) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of Nexstar Media Group (NASDAQ:NXST) from a strong-buy rating to a buy rating in a research note published on Wednesday.

Several other research analysts have also issued reports on NXST. Zacks Investment Research upgraded shares of Nexstar Media Group from a hold rating to a buy rating and set a $66.00 price target for the company in a report on Wednesday, September 13th. Royal Bank of Canada restated a buy rating and set a $81.00 price target on shares of Nexstar Media Group in a report on Monday, September 18th. Jefferies Group restated a buy rating and set a $80.00 price target on shares of Nexstar Media Group in a report on Thursday, September 21st. Guggenheim initiated coverage on shares of Nexstar Media Group in a report on Wednesday, October 18th. They set a buy rating and a $90.00 price target for the company. Finally, Deutsche Bank assumed coverage on shares of Nexstar Media Group in a report on Friday, October 20th. They set a buy rating and a $80.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $85.10.

Nexstar Media Group (NXST) traded down $0.75 during trading on Wednesday, reaching $73.45. 1,020,000 shares of the company’s stock traded hands, compared to its average volume of 640,952. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.58. Nexstar Media Group has a 52-week low of $55.95 and a 52-week high of $80.45. The company has a market cap of $3,346.82, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 0.74 and a beta of 2.21.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The firm had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. During the same quarter last year, the business earned $0.78 EPS. The company’s revenue was up 122.0% compared to the same quarter last year. equities research analysts expect that Nexstar Media Group will post 3.46 EPS for the current fiscal year.

In other news, Director Lisbeth Mcnabb sold 5,000 shares of Nexstar Media Group stock in a transaction 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 directly owns 5,000 shares in the company, valued at approximately $398,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Blake Russell sold 20,000 shares of Nexstar Media Group stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $78.31, for a total value of $1,566,200.00. Following the sale, the senior vice president now owns 42,861 shares in the company, valued at $3,356,444.91. The disclosure for this sale can be found here. Insiders have sold a total of 345,860 shares of company stock worth $23,290,703 over the last ninety days. Insiders own 7.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Nexstar Media Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,502,491 shares of the company’s stock valued at $209,449,000 after acquiring an additional 62,881 shares during the period. Neuberger Berman Group LLC raised its stake in Nexstar Media Group by 3.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,390,284 shares of the company’s stock valued at $211,215,000 after acquiring an additional 122,949 shares during the period. Bank of New York Mellon Corp raised its stake in Nexstar Media Group by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,152,483 shares of the company’s stock valued at $134,100,000 after acquiring an additional 132,245 shares during the period. JPMorgan Chase & Co. raised its stake in Nexstar Media Group by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,756,748 shares of the company’s stock valued at $109,270,000 after acquiring an additional 158,626 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 10.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,551,140 shares of the company’s stock valued at $96,636,000 after acquiring an additional 141,940 shares during the period.

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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.

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