Nexstar Media Group (NXST) Upgraded to “Buy” at BidaskClub

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BidaskClub upgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a buy rating in a report published on Saturday.

Other equities analysts have also issued research reports about the stock. Stephens set a $94.00 price objective on shares of Nexstar Media Group and gave the company a buy rating in a research report on Thursday, August 9th. ValuEngine raised shares of Nexstar Media Group from a hold rating to a buy rating in a research report on Wednesday, July 11th. B. Riley cut their price objective on shares of Nexstar Media Group to $87.00 and set a buy rating on the stock in a research report on Monday, May 21st. Jefferies Financial Group reaffirmed a buy rating and set a $87.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, July 24th. Finally, Benchmark reaffirmed a buy rating and set a $94.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 10th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $89.67.

Shares of NXST opened at $79.15 on Friday. The company has a market cap of $3.48 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.57 and a beta of 1.88. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.43 and a current ratio of 2.43. Nexstar Media Group has a twelve month low of $56.65 and a twelve month high of $89.75.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.14. The firm had revenue of $660.30 million for the quarter, compared to analyst estimates of $657.92 million. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. analysts predict that Nexstar Media Group will post 8.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Friday, August 10th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, August 9th. Nexstar Media Group’s dividend payout ratio is 37.69%.

In other news, insider Douglas Davis sold 1,875 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $77.41, for a total value of $145,143.75. Following the transaction, the insider now owns 683 shares of the company’s stock, valued at $52,871.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Jones sold 2,238 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $76.03, for a total transaction of $170,155.14. Following the completion of the transaction, the insider now directly owns 10,500 shares in the company, valued at approximately $798,315. The disclosure for this sale can be found here. In the last three months, insiders sold 7,751 shares of company stock worth $569,432. Insiders own 6.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Private Management Group Inc. bought a new position in shares of Nexstar Media Group in the second quarter valued at approximately $10,856,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Nexstar Media Group by 64.8% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock valued at $178,000 after purchasing an additional 953 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Nexstar Media Group in the second quarter valued at approximately $359,000. Glenmede Trust Co. NA raised its position in shares of Nexstar Media Group by 20.6% in the second quarter. Glenmede Trust Co. NA now owns 639,159 shares of the company’s stock valued at $46,914,000 after purchasing an additional 109,257 shares during the period. Finally, Pin Oak Investment Advisors Inc. raised its position in shares of Nexstar Media Group by 36.7% in the second quarter. Pin Oak Investment Advisors Inc. now owns 33,958 shares of the company’s stock valued at $2,493,000 after purchasing an additional 9,115 shares during the period.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company 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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