Royal Bank of Canada Reaffirms “Buy” Rating for Nexstar Media Group (NXST)
Several other equities research analysts have also recently commented on the stock. Deutsche Bank initiated coverage on shares of Nexstar Media Group in a research report on Friday, October 20th. They issued a buy rating and a $80.00 price target on the stock. 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 downgraded Nexstar Media Group from a buy rating to a hold rating in a report on Tuesday, October 24th. B. Riley boosted their price objective on Nexstar Media Group from $79.00 to $84.00 and gave the stock a buy rating in a report on Tuesday, November 7th. Finally, Noble Financial restated a buy rating on shares of Nexstar Media Group in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Nexstar Media Group has an average rating of Buy and an average target price of $85.10.
Shares of Nexstar Media Group (NASDAQ:NXST) traded down $0.75 during trading on Thursday, reaching $73.45. 1,020,800 shares of the company’s stock traded hands, compared to its average volume of 846,875. 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 12-month low of $55.95 and a 12-month high of $80.45. The company has a market capitalization of $3,346.83, a PE ratio of 27.61, a PEG ratio of 0.74 and a beta of 2.21.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.98 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 for the quarter, compared to analysts’ expectations of $609.44 million. During the same period in the previous year, the business earned $0.78 earnings per share. Nexstar Media Group’s revenue for the quarter was up 122.0% compared to the same quarter last year. equities research analysts anticipate that Nexstar Media Group will post 3.46 EPS for the current fiscal year.
In other news, CEO Perry A. Sook sold 300,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $66.13, for a total value of $19,839,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Michael Vaughn sold 5,050 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $61.35, for a total value of $309,817.50. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $613,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 345,860 shares of company stock worth $23,290,703. Corporate insiders own 8.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its holdings in shares of Nexstar Media Group by 14.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 199,135 shares of the company’s stock valued at $12,406,000 after purchasing an additional 25,530 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $426,000. Neuberger Berman Group LLC increased its holdings in shares of 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 purchasing an additional 122,949 shares during the period. Fairbanks Capital Management Inc. acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $1,859,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Nexstar Media Group by 443.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 24,672 shares of the company’s stock valued at $1,537,000 after purchasing an additional 20,132 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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