Nexstar Media Group (NASDAQ:NXST) Earns Buy Rating from Barrington Research

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “buy” rating reaffirmed by investment analysts at Barrington Research in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They currently have a $135.00 price target on the stock. Barrington Research’s price objective suggests a potential upside of 41.23% from the stock’s previous close.

Several other equities research analysts have also recently commented on NXST. ValuEngine cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub raised shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating and set a $122.00 target price for the company in a research report on Wednesday, July 17th. Finally, B. Riley set a $139.00 target price on shares of Nexstar Media Group and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $119.71.

Shares of NASDAQ:NXST traded down $2.51 on Wednesday, hitting $95.59. The company had a trading volume of 1,150,445 shares, compared to its average volume of 405,374. The stock’s 50-day moving average is $103.58. Nexstar Media Group has a 1 year low of $70.09 and a 1 year high of $119.93. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.00. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.47.

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

In related news, Director Dennis Miller sold 625 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.17, for a total value of $63,856.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of NXST. Legacy Bridge LLC purchased a new stake in shares of Nexstar Media Group during the 1st quarter valued at about $26,000. Private Capital Group LLC boosted its holdings in shares of Nexstar Media Group by 46.3% in the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock worth $42,000 after buying an additional 124 shares during the last quarter. Synovus Financial Corp purchased a new position in shares of Nexstar Media Group in the first quarter worth approximately $54,000. State of Alaska Department of Revenue purchased a new position in shares of Nexstar Media Group in the first quarter worth approximately $66,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth approximately $80,000.

About Nexstar Media Group

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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