Nexstar Media Group (NASDAQ: NXST – Get a rating) has been upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report delivered to clients and investors on Tuesday, Zacks.com reports. The company currently has a target price of $198.00 on the stock. Zacks Investment ResearchThe company’s price target indicates a potential upside of 15.28% from the company’s current price.
According to Zacks, “Nexstar Broadcasting Group 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 group of television stations includes affiliates of NBC, CBS, ABC, FOX and UPN. “
Other stock analysts have also recently published research reports on the company. Benchmark raised its price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a Wednesday, February 23 report. Barrington Research raised its price target on Nexstar Media Group from $200.00 to $215.00 in a Wednesday, February 23 research report. Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group from $216.00 to $225.00 in a Thursday, May 12 research report. Guggenheim raised its price target on Nexstar Media Group from $210.00 to $220.00 in a Wednesday, May 11 research report. Finally, Rosenblatt Securities raised its price target on Nexstar Media Group to $181.00 and gave the stock an “na” rating in a research report on Monday. Five equity research analysts gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat data, Nexstar Media Group has an average rating of “Buy” and an average price target of $209.00.
Nexstar Media Group Action opened at $171.75 on Tuesday. The company has a debt ratio of 2.47, a quick ratio of 2.02 and a current ratio of 2.02. Nexstar Media Group has a 52-week low of $135.87 and a 52-week high of $192.84. The stock has a market capitalization of $6.94 billion, a P/E ratio of 8.34, a growth price/earnings ratio of 0.67 and a beta of 1.54. The stock has a fifty-day moving average of $175.21 and a 200-day moving average of $167.32.
Nexstar Media Group (NASDAQ: NXST – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported EPS of $5.99 for the quarter, beating analyst consensus estimates of $4.89 by $1.10. Nexstar Media Group achieved a return on equity of 32.08% and a net margin of 18.66%. The company posted revenue of $1.21 billion in the quarter, compared to analysts’ expectations of $1.19 billion. In the same quarter of the previous year, the company achieved EPS of $4.42. Nexstar Media Group revenue increased 6.9% year-over-year. On average, research analysts expect Nexstar Media Group to post earnings per share of 25.58 for the current year.
In related news, COO Thomas Carter sold 5,000 shares of Nexstar Media Group in a transaction dated Tuesday, March 1. The stock was sold at an average price of $185.48, for a total value of $927,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Additionally, insider Karen A. Brophy sold 350 shares of Nexstar Media Group in a trade dated Tuesday, March 1. The stock was sold at an average price of $185.61, for a total value of $64,963.50. Disclosure of this sale can be found here. In the past three months, insiders have sold 37,919 shares of the company valued at $7,075,467. Insiders of the company own 6.90% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their holdings in the company. Dimensional Fund Advisors LP increased its holdings of Nexstar Media Group shares by 15.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,770,568 shares of the company worth $269,067,000 after purchasing an additional 233,337 shares in the last quarter. BlackRock Inc. increased its holdings of Nexstar Media Group shares by 0.7% in the first quarter. BlackRock Inc. now owns 1,714,944 shares of the company worth $323,233,000 after purchasing an additional 12,720 shares in the last quarter. Boston Partners increased its holdings of Nexstar Media Group shares by 4.2% in the first quarter. Boston Partners now owns 1,281,140 shares of the company worth $240,728,000 after purchasing an additional 51,990 shares last quarter. Cardinal Capital Management LLC CT increased its position in Nexstar Media Group by 2.4% in the fourth quarter. Cardinal Capital Management LLC CT now owns 1,120,631 shares of the company worth $169,193,000 after purchasing an additional 25,781 shares in the last quarter. Finally, Park West Asset Management LLC strengthened its position in Nexstar Media Group by 17.8% in the third quarter. Park West Asset Management LLC now owns 805,600 shares of the company worth $122,419,000 after purchasing an additional 121,600 shares in the last quarter. 96.00% of the shares are held by institutional investors.
Nexstar Media Group Company Profile (Get a rating)
Nexstar Media Group, Inc, a television broadcasting and digital media company, is focused on the acquisition, development and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to viewers.
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