Nexstar Broadcasting Group, Inc. (NXST) Receives New Coverage from Analysts at Deutsche Bank AG

Research analysts at Deutsche Bank AG assumed coverage on shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) in a research note issued on Friday, October 20th, MarketBeat.com reports. The firm set a “buy” rating and a $80.00 price target on the stock. Deutsche Bank AG’s target price indicates a potential upside of 26.18% from the stock’s previous close.

A number of other research firms have also recently issued reports on NXST. Royal Bank Of Canada reiterated an “outperform” rating and issued a $81.00 target price (down from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday, August 10th. BidaskClub upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wells Fargo & Company reiterated an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Finally, ValuEngine cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.22.

Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 63.40 on Friday. Nexstar Broadcasting Group has a 1-year low of $47.00 and a 1-year high of $73.90. The stock has a 50 day moving average of $60.72 and a 200-day moving average of $61.78. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 26.08 and a beta of 2.22.

Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $626.11 million during the quarter, compared to the consensus estimate of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm’s revenue was up 139.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities analysts anticipate that Nexstar Broadcasting Group will post $3.38 EPS for the current fiscal year.

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In other Nexstar Broadcasting Group news, Director Dennis Miller sold 4,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Muse sold 229,267 shares of Nexstar Broadcasting Group stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $59.50, for a total value of $13,641,386.50. Following the completion of the transaction, the director now directly owns 4,743 shares in the company, valued at approximately $282,208.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 977,732 shares of company stock worth $58,618,210. 7.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. grew its stake in Nexstar Broadcasting Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock valued at $408,000 after acquiring an additional 18 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Nexstar Broadcasting Group by 2.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock valued at $214,000 after acquiring an additional 99 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Nexstar Broadcasting Group by 0.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock valued at $1,394,000 after acquiring an additional 131 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Nexstar Broadcasting Group by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after acquiring an additional 312 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Nexstar Broadcasting Group by 10.8% during the 2nd quarter. Amalgamated Bank now owns 5,951 shares of the company’s stock valued at $356,000 after acquiring an additional 582 shares in the last quarter.

About Nexstar Broadcasting 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.

Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

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