Nexstar Media Group (NXST) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $82.00 price target on the stock.

According to Zacks, “Nexstar Broadcasting Group currently 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 television station group includes affiliates of NBC, CBS, ABC, FOX and UPN. “

NXST has been the topic of a number of other research reports. B. Riley restated a buy rating and issued a $79.00 target price on shares of Nexstar Media Group in a research report on Wednesday, November 1st. Deutsche Bank assumed coverage on Nexstar Media Group in a report on Friday, October 20th. They issued a buy rating and a $80.00 price objective on the stock. Wells Fargo & Co reiterated an outperform rating and issued a $102.00 price objective (up previously from $93.00) on shares of Nexstar Media Group in a report on Thursday, January 4th. BidaskClub downgraded Nexstar Media Group from a buy rating to a hold rating in a report on Thursday, January 25th. Finally, Guggenheim assumed coverage on Nexstar Media Group in a report on Wednesday, October 18th. They issued a buy rating and a $90.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Nexstar Media Group currently has an average rating of Buy and an average target price of $86.60.

Shares of Nexstar Media Group (NXST) opened at $71.95 on Wednesday. Nexstar Media Group has a 1 year low of $55.95 and a 1 year high of $82.95. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $3,333.16, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.83.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. Nexstar Media Group had a return on equity of 16.20% and a net margin of 5.60%. The company had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 122.0% on a year-over-year basis. equities research analysts expect that Nexstar Media Group will post 3.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a $0.375 dividend. The ex-dividend date is Thursday, February 15th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.08%. Nexstar Media Group’s dividend payout ratio is 45.11%.

In other Nexstar Media Group news, insider Timothy C. Busch sold 10,000 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $79.13, for a total transaction of $791,300.00. Following the sale, the insider now owns 50,214 shares in the company, valued at approximately $3,973,433.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth Ryder sold 3,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $65.87, for a total value of $197,610.00. Following the sale, the executive vice president now owns 5,210 shares in the company, valued at approximately $343,182.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,610 shares of company stock valued at $3,129,294. Insiders own 7.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of NXST. Cerebellum GP LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $132,000. Victory Capital Management Inc. purchased a new position in Nexstar Media Group in the third quarter valued at about $172,000. Ameritas Investment Partners Inc. raised its position in Nexstar Media Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after purchasing an additional 312 shares during the period. Cetera Investment Advisers purchased a new position in Nexstar Media Group in the second quarter valued at about $260,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Nexstar Media Group during the third quarter worth about $262,000.

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About Nexstar Media 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.

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