Nexstar Media Group (NXST) Now Covered by Wolfe Research

Equities research analysts at Wolfe Research initiated coverage on shares of Nexstar Media Group (NASDAQ:NXST) in a research note issued to investors on Friday, The Fly reports. The brokerage set an “outperform” rating on the stock.

A number of other brokerages also recently issued reports on NXST. Benchmark reaffirmed a “buy” rating and set a $115.00 price target (up from $96.00) on shares of Nexstar Media Group in a research report on Tuesday. Stephens upped their price target on Nexstar Media Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday. BidaskClub raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Nexstar Media Group from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Saturday, December 1st. Finally, Barrington Research reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $95.80.

Shares of NXST stock traded down $0.52 during trading hours on Friday, reaching $85.97. 85,591 shares of the company’s stock were exchanged, compared to its average volume of 745,407. The company has a market cap of $3.89 billion, a PE ratio of 21.60, a PEG ratio of 1.01 and a beta of 1.75. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 2.34. Nexstar Media Group has a fifty-two week low of $60.30 and a fifty-two week high of $89.75.



Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. The business had revenue of $693.00 million for the quarter, compared to the consensus estimate of $676.34 million. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Nexstar Media Group will post 8.41 earnings per share for the current year.

In related news, EVP Elizabeth Ryder sold 7,392 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $81.02, for a total value of $598,899.84. Following the transaction, the executive vice president now directly owns 12,827 shares of the company’s stock, valued at approximately $1,039,243.54. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Blake Russell sold 7,262 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $82.90, for a total value of $602,019.80. Following the completion of the transaction, the executive vice president now directly owns 31,950 shares in the company, valued at $2,648,655. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,925 shares of company stock worth $1,954,553. 6.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Nexstar Media Group by 64.8% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock valued at $178,000 after acquiring an additional 953 shares during the period. Engineers Gate Manager LP acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $204,000. Parametrica Management Ltd acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $205,000. Lowe Brockenbrough & Co. Inc. acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $217,000. Finally, Alpha Cubed Investments LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $231,000.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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