ValuEngine Lowers Nexstar Media Group (NASDAQ:NXST) to Hold

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

A number of other analysts have also recently issued reports on NXST. B. Riley increased their price objective on Nexstar Media Group from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BidaskClub raised Nexstar Media Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 23rd. Benchmark reissued a “buy” rating and set a $120.00 price objective (up previously from $115.00) on shares of Nexstar Media Group in a report on Thursday, March 21st. Barrington Research reissued a “buy” rating and set a $110.00 price objective on shares of Nexstar Media Group in a report on Tuesday, February 26th. Finally, Zacks Investment Research cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Nexstar Media Group presently has a consensus rating of “Buy” and a consensus target price of $113.13.

Shares of NASDAQ NXST opened at $101.08 on Wednesday. Nexstar Media Group has a one year low of $70.09 and a one year high of $119.93. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $4.53 billion, a PE ratio of 11.84, a PEG ratio of 1.49 and a beta of 1.60.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 EPS 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 for the quarter, compared to analysts’ expectations of $640.35 million. During the same period in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts expect that Nexstar Media Group will post 6.59 EPS for the current fiscal year.

In other Nexstar Media Group news, insider Brian Jones sold 35,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $108.31, for a total value of $3,790,850.00. Following the transaction, the insider now directly owns 52,734 shares in the company, valued at approximately $5,711,619.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pompadur sold 1,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $104.60, for a total value of $104,600.00. Following the completion of the transaction, the director now owns 8,875 shares in the company, valued at $928,325. The disclosure for this sale can be found here. Insiders sold a total of 45,448 shares of company stock worth $4,916,163 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Bridge LLC bought a new position in Nexstar Media Group in the 1st quarter worth about $26,000. Penserra Capital Management LLC bought a new position in Nexstar Media Group in the 4th quarter worth about $28,000. Rockefeller Capital Management L.P. increased its stake in Nexstar Media Group by 260.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 375 shares of the company’s stock worth $40,000 after acquiring an additional 271 shares during the last quarter. Private Capital Group LLC increased its stake in Nexstar Media Group by 46.3% in the 1st quarter. Private Capital Group LLC now owns 392 shares of the company’s stock worth $42,000 after acquiring an additional 124 shares during the last quarter. Finally, Synovus Financial Corp bought a new position in Nexstar Media Group in the 1st quarter worth about $54,000.

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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