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

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

Several other brokerages also recently issued reports on NXST. Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a research note on Thursday, December 21st. BidaskClub raised shares of Nexstar Media Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. B. Riley raised their price objective on shares of Nexstar Media Group from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Deutsche Bank raised their price objective on shares of Nexstar Media Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, FBR & Co started coverage on shares of Nexstar Media Group in a research note on Tuesday, October 31st. They set a “buy” rating and a $79.00 price target for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $83.70.

Nexstar Media Group (NXST) opened at $75.60 on Thursday. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $3,508.59, a PE ratio of 28.42, a P/E/G ratio of 0.77 and a beta of 2.21. Nexstar Media Group has a 12-month low of $55.95 and a 12-month high of $80.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The business 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 firm’s quarterly revenue was up 122.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. analysts expect that Nexstar Media Group will post 3.46 EPS for the current year.

In other news, Director Lisbeth Mcnabb sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $79.61, for a total transaction of $398,050.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $398,050. 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 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 345,860 shares of company stock valued at $23,290,703 in the last three months. 7.80% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC purchased a new stake in Nexstar Media Group in the second quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nexstar Media Group by 98.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after purchasing an additional 901 shares during the last quarter. Blueport Capital L.P. acquired a new position in shares of Nexstar Media Group during the 1st quarter worth about $140,000. BNP Paribas Arbitrage SA raised its position in shares of Nexstar Media Group by 110.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,454 shares of the company’s stock worth $142,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. purchased a new stake in Nexstar Media Group during the 2nd quarter valued at about $145,000.

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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.

The Fly

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

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