Nexstar Media Group (NASDAQ:NXST) Downgraded by ValuEngine to “Hold”

Nexstar Media Group (NASDAQ:NXST) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other equities analysts have also weighed in on the stock. B. Riley set a $139.00 price objective on shares of Nexstar Media Group and gave the company a “buy” rating in a research report on Tuesday, May 14th. Barrington Research reiterated a “buy” rating and issued a $135.00 price objective on shares of Nexstar Media Group in a research report on Monday, May 13th. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating and set a $122.00 price objective on the stock in a research report on Wednesday, July 17th. Finally, BidaskClub upgraded shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Nexstar Media Group has an average rating of “Buy” and a consensus target price of $119.71.

NASDAQ:NXST traded down $2.72 during midday trading on Thursday, reaching $98.77. The stock had a trading volume of 338,288 shares, compared to its average volume of 389,177. The business’s fifty day simple moving average is $103.72. Nexstar Media Group has a 12-month low of $70.09 and a 12-month high of $119.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00. The stock has a market cap of $4.69 billion, a PE ratio of 11.57, a P/E/G ratio of 1.58 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The firm had revenue of $626.65 million during the quarter, compared to analysts’ expectations of $640.35 million. During the same quarter last year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts expect that Nexstar Media Group will post 6.45 EPS for the current year.

In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $102.17, for a total transaction of $63,856.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC raised its stake in Nexstar Media Group by 0.5% in the 1st quarter. Neuberger Berman Group LLC now owns 2,846,218 shares of the company’s stock valued at $308,445,000 after purchasing an additional 15,260 shares during the last quarter. FMR LLC raised its stake in Nexstar Media Group by 3.4% in the 1st quarter. FMR LLC now owns 2,555,664 shares of the company’s stock valued at $276,957,000 after purchasing an additional 84,786 shares during the last quarter. Geode Capital Management LLC raised its stake in Nexstar Media Group by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 530,870 shares of the company’s stock valued at $41,747,000 after purchasing an additional 38,635 shares during the last quarter. Norges Bank acquired a new position in Nexstar Media Group in the 4th quarter valued at about $32,936,000. Finally, Tributary Capital Management LLC raised its stake in Nexstar Media Group by 12.6% in the 1st quarter. Tributary Capital Management LLC now owns 317,456 shares of the company’s stock valued at $34,403,000 after purchasing an additional 35,589 shares during the last quarter.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It 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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