Nexstar Media Group (NASDAQ:NXST) PT Lowered to $205.00

Nexstar Media Group (NASDAQ:NXST) had its price target dropped by analysts at Deutsche Bank Aktiengesellschaft from $207.00 to $205.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 28.56% from the stock’s current price.

A number of other equities analysts also recently commented on NXST. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.67.

Nexstar Media Group Trading Down 2.5 %

NASDAQ NXST traded down $4.09 during trading hours on Friday, hitting $159.46. 117,088 shares of the company’s stock were exchanged, compared to its average volume of 343,500. The business’s 50 day moving average is $166.80 and its 200-day moving average is $166.81. Nexstar Media Group has a 12-month low of $132.30 and a 12-month high of $187.27. The firm has a market capitalization of $5.25 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.64 earnings per share. As a group, analysts anticipate that Nexstar Media Group will post 27.62 EPS for the current fiscal year.

Insider Activity

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 747 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $111,362.76. Following the completion of the sale, the chief financial officer now owns 6,591 shares in the company, valued at approximately $982,586.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 747 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $111,362.76. Following the completion of the sale, the chief financial officer now owns 6,591 shares in the company, valued at approximately $982,586.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Muse sold 365 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $58,400.00. Following the sale, the director now owns 27,613 shares of the company’s stock, valued at approximately $4,418,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,826 shares of company stock worth $1,080,597. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Nexstar Media Group by 5.5% in the 4th quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock worth $217,021,000 after purchasing an additional 72,462 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group in the 1st quarter worth approximately $92,323,000. Point72 Asset Management L.P. lifted its holdings in shares of Nexstar Media Group by 392.6% in the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

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.