Nexstar Media Group (NASDAQ:NXST)‘s stock had its “buy” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Thursday, January 4th. They currently have a $95.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.75% from the stock’s previous close.
Several other research analysts also recently commented on NXST. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, September 13th. Jefferies Group reissued a “buy” rating and set a $80.00 target price on shares of Nexstar Media Group in a research report on Thursday, September 21st. Guggenheim began coverage on shares of Nexstar Media Group in a research report on Wednesday, October 18th. They set a “buy” rating and a $90.00 target price on the stock. Deutsche Bank began coverage on shares of Nexstar Media Group in a research report on Friday, October 20th. They set a “buy” rating and a $80.00 target price on the stock. Finally, FBR & Co began coverage on shares of Nexstar Media Group in a research report on Tuesday, October 31st. They set a “buy” rating and a $79.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.10.
Shares of Nexstar Media Group (NASDAQ NXST) traded up $1.60 on Thursday, hitting $80.00. 626,600 shares of the stock traded hands, compared to its average volume of 742,775. Nexstar Media Group has a 1-year low of $55.95 and a 1-year high of $80.45. The stock has a market capitalization of $3,630.00, a P/E ratio of 29.96, a P/E/G ratio of 0.74 and a beta of 2.21. 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 (NASDAQ:NXST) last announced its earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The business had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The business’s revenue for the quarter was up 122.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. sell-side analysts forecast that Nexstar Media Group will post 3.46 EPS for the current year.
In related news, insider Timothy C. Busch sold 10,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $79.13, for a total value of $791,300.00. Following the completion of the sale, the insider now directly owns 50,214 shares in the company, valued at approximately $3,973,433.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 300,000 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $66.13, for a total transaction of $19,839,000.00. The disclosure for this sale can be found here. Insiders sold a total of 345,860 shares of company stock worth $23,290,703 over the last 90 days. Company insiders own 8.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NXST. Thompson Siegel & Walmsley LLC acquired a new stake in Nexstar Media Group during the 2nd quarter valued at approximately $125,000. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Nexstar Media Group during the 2nd quarter valued at approximately $145,000. Victory Capital Management Inc. purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at approximately $172,000. SG Americas Securities LLC increased its holdings in shares of Nexstar Media Group by 29.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after purchasing an additional 785 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Nexstar Media Group by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after purchasing an additional 312 shares in the last quarter.
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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.
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