Nexstar Media Group (NASDAQ:NXST) Price Target Cut to $198.00

Nexstar Media Group (NASDAQ:NXST) had its price target lowered by analysts at Guggenheim from $200.00 to $198.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 20.55% from the company’s previous close.

NXST has been the topic of several other research reports. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company reduced their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.14.

Nexstar Media Group Trading Up 1.0 %

Nexstar Media Group stock opened at $164.25 on Friday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. Nexstar Media Group has a 1 year low of $132.30 and a 1 year high of $187.27. The firm’s 50 day moving average price is $167.12 and its two-hundred day moving average price is $165.88. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 earnings per share. On average, research analysts predict that Nexstar Media Group will post 25.72 EPS for the current fiscal year.

Insider Activity

In related news, insider Andrew Alford sold 3,175 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Blake Russell sold 2,782 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the transaction, the executive vice president now owns 22,329 shares of the company’s stock, valued at approximately $3,794,143.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 in the last three months. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently modified their holdings of NXST. Stifel Financial Corp grew its stake in Nexstar Media Group by 40.7% in the 4th quarter. Stifel Financial Corp now owns 35,809 shares of the company’s stock valued at $5,613,000 after buying an additional 10,350 shares during the last quarter. Personal CFO Solutions LLC increased its stake in shares of Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after purchasing an additional 202 shares during the period. Engine Capital Management LP lifted its position in shares of Nexstar Media Group by 7.2% during the 4th quarter. Engine Capital Management LP now owns 185,713 shares of the company’s stock worth $29,111,000 after purchasing an additional 12,415 shares during the last quarter. Sage Rock Capital Management LP bought a new stake in Nexstar Media Group during the 4th quarter valued at approximately $110,000. Finally, Alden Global Capital LLC grew its holdings in Nexstar Media Group by 27.7% in the 4th quarter. Alden Global Capital LLC now owns 64,621 shares of the company’s stock valued at $10,129,000 after buying an additional 14,008 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.