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 equities research analysts have also commented on NXST. BidaskClub lowered shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Wells Fargo & Co initiated coverage on shares of Nexstar Media Group in a report on Monday, September 23rd. They set a “market perform” rating and a $113.00 price target for the company. Evercore ISI reiterated a “buy” rating and set a $116.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Benchmark upped their price target on shares of Nexstar Media Group from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Barrington Research reiterated a “buy” rating and set a $135.00 price target on shares of Nexstar Media Group in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Nexstar Media Group has an average rating of “Buy” and an average price target of $129.63.
Shares of Nexstar Media Group stock opened at $99.03 on Tuesday. The company has a fifty day moving average of $99.89 and a 200-day moving average of $102.43. Nexstar Media Group has a 52-week low of $70.51 and a 52-week high of $119.93. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.44.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($2.36). Nexstar Media Group had a net margin of 13.61% and a return on equity of 21.05%. The firm had revenue of $663.60 million for the quarter, compared to the consensus estimate of $644.00 million. During the same quarter in the prior year, the company earned $2.12 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Nexstar Media Group will post 6.36 earnings per share for the current fiscal year.
In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 625 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $106.55, for a total value of $66,593.75. Following the completion of the transaction, the director now directly owns 3,750 shares in the company, valued at approximately $399,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of NXST. Tower Research Capital LLC TRC increased its stake in shares of Nexstar Media Group by 165.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 327 shares of the company’s stock worth $33,000 after acquiring an additional 204 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Nexstar Media Group in the 2nd quarter worth about $80,000. Synovus Financial Corp increased its stake in shares of Nexstar Media Group by 100.0% in the 2nd quarter. Synovus Financial Corp now owns 1,000 shares of the company’s stock worth $101,000 after acquiring an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Nexstar Media Group in the 2nd quarter worth about $116,000. Finally, Resources Investment Advisors LLC. bought a new position in shares of Nexstar Media Group in the 2nd quarter worth about $119,000. Institutional investors own 99.91% of the company’s stock.
About Nexstar Media Group
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.
Further Reading: Hedge Funds – Risk or Reward?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.