Nexstar Media Group (NASDAQ: NXST) demoted by Zacks Investment Research
According to Zacks, “Nexstar Broadcasting Group owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s group of television stations includes subsidiaries of NBC, CBS, ABC, FOX and UPN. “
Separately, Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group from $ 170.00 to $ 185.00 and gave the company a “buy” rating in a report released on Friday, July 2. One equity research analyst rated the stock with a conservation rating and five issued a buy rating for the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $ 160.67.
NASDAQ: NXST open for $ 148.39 Tuesday. The company has a market cap of $ 6.20 billion, a PE ratio of 7.07, a price / earnings-growth ratio of 0.85, and a beta of 1.87. The stock has a fifty-day moving average price of $ 146.70 and a 200-day moving average price of $ 147.46. Nexstar Media Group has a 12 month low of $ 80.42 and a 12 month high of $ 163.62. The company has a current ratio of 2.18, a quick ratio of 2.18, and a debt ratio of 2.89.
Nexstar Media Group (NASDAQ: NXST) last reported its results on Wednesday, August 4. The company reported earnings per share (EPS) of $ 4.51 for the quarter, beating the consensus estimate of $ 3.87 by the Zacks by $ 0.64. The company posted revenue of $ 1.13 billion in the quarter, compared to analysts’ estimates of $ 1.12 billion. Nexstar Media Group recorded a return on equity of 38.21% and a net margin of 20.17%. Nexstar Media Group revenues increased 23.7% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $ 2.13. Stock analysts predict that Nexstar Media Group will post 17.46 EPS for the current year.
In other Nexstar Media Group news, insider Andrew Alford sold 189 shares of Nexstar Media Group in a transaction dated Thursday, August 19. The stock was sold for an average price of $ 142.50, for a total trade of $ 26,932.50. Following the completion of the sale, the insider now directly owns 4,405 shares of the company, valued at approximately $ 627,712.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the shares are held by insiders.
Several institutional investors have recently bought and sold shares of NXST. Eagle Bay Advisors LLC purchased a new equity stake in Nexstar Media Group in the second quarter for a value of approximately $ 29,000. Northwestern Mutual Wealth Management Co. increased its stake in Nexstar Media Group shares by 53.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company valued at $ 32,000 after purchasing 76 additional shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new equity stake in Nexstar Media Group in the second quarter for a value of approximately $ 35,000. Berman Capital Advisors LLC strengthened its position in Nexstar Media Group by 168.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 260 shares of the company valued at $ 38,000 after acquiring 163 additional shares during the period. Finally, IFP Advisors Inc strengthened its position in Nexstar Media Group by 143.0% in the 1st quarter. IFP Advisors Inc now owns 294 shares of the company valued at $ 41,000 after acquiring 173 additional shares during the period. 86.36% of the shares are held by institutional investors and hedge funds.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc. is a television broadcasting and digital media company engaged in the acquisition, development and operation of television stations, interactive community websites and digital media services. The undertaking provides free over-the-air programming services that include programs produced by networks to which the stations are affiliated, programs produced by the stations, and premiered and replayed syndicated programs that the stations acquire.
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