Nexstar Media Group (NXST) Stock Rating Reaffirmed by Wells Fargo & Co

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued to investors on Thursday. They presently have a $102.00 target price on the stock, up from their prior target price of $93.00. Wells Fargo & Co’s target price indicates a potential upside of 34.92% from the company’s previous close.

A number of other research firms also recently issued reports on NXST. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. FBR & Co initiated coverage on shares of Nexstar Media Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 price objective for the company. Finally, Deutsche Bank boosted their price objective on shares of Nexstar Media Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.70.

Shares of Nexstar Media Group (NXST) opened at $75.60 on Thursday. The company has a market cap of $3,508.59, a PE ratio of 28.42, a P/E/G ratio of 0.77 and a beta of 2.21. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. Nexstar Media Group has a twelve month low of $55.95 and a twelve month high of $80.45.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. analysts forecast that Nexstar Media Group will post 3.46 earnings per share for the current fiscal year.

In other news, insider Gary Michael Vaughn sold 5,050 shares of the business’s stock in a transaction that occurred on 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 directly owns 10,000 shares in the company, valued at approximately $613,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were 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 valued at $23,290,703 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Several large investors have recently modified their holdings of NXST. Rovida Advisors Inc. raised its position in shares of Nexstar Media Group by 940.8% in the 3rd quarter. Rovida Advisors Inc. now owns 506,743 shares of the company’s stock valued at $31,570,000 after buying an additional 458,055 shares in the last quarter. Royal Bank of Canada raised its position in shares of Nexstar Media Group by 62.0% in the 2nd quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock valued at $64,089,000 after buying an additional 410,332 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $22,069,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Nexstar Media Group by 24.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,538,285 shares of the company’s stock valued at $95,834,000 after buying an additional 304,610 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Nexstar Media Group by 1,196.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 328,593 shares of the company’s stock worth $20,471,000 after purchasing an additional 303,248 shares in the last quarter.

COPYRIGHT VIOLATION NOTICE: “Nexstar Media Group (NXST) Stock Rating Reaffirmed by Wells Fargo & Co” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2018/01/04/nexstar-media-group-nxst-stock-rating-reaffirmed-by-wells-fargo-co.html.

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.

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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.

Latest News

Leave a Reply