Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) PT Raised to $85.00 at Deutsche Bank AG

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) had its price objective lifted by equities research analysts at Deutsche Bank AG from $80.00 to $85.00 in a note issued to investors on Wednesday, November 8th. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price target suggests a potential upside of 28.59% from the company’s current price.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Wells Fargo & Company restated an “outperform” rating and set a $85.00 price target on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. B. Riley upped their price target on Nexstar Broadcasting Group from $79.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $80.00 price target on shares of Nexstar Broadcasting Group in a research note on Thursday, September 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $82.00.

Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at $66.10 on Wednesday. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. Nexstar Broadcasting Group has a 12-month low of $55.95 and a 12-month high of $73.90. The stock has a market capitalization of $3,043.81, a price-to-earnings ratio of 17.53, a PEG ratio of 1.48 and a beta of 2.24.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The business had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s revenue was up 122.0% on a year-over-year basis. sell-side analysts anticipate that Nexstar Broadcasting Group will post 3.51 EPS for the current fiscal year.

In related news, insider Gary Michael Vaughn sold 2,210 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $66.79, for a total value of $147,605.90. Following the sale, the insider now owns 9,750 shares of the company’s stock, valued at approximately $651,202.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $66.13, for a total value of $19,839,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,275,517 shares of company stock worth $78,330,876. 7.80% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Nexstar Broadcasting Group by 96.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 23,181 shares of the company’s stock worth $1,626,000 after acquiring an additional 11,379 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Nexstar Broadcasting Group during the 1st quarter worth $637,000. Principal Financial Group Inc. boosted its stake in shares of Nexstar Broadcasting Group by 17.3% during the 1st quarter. Principal Financial Group Inc. now owns 22,169 shares of the company’s stock worth $1,555,000 after acquiring an additional 3,277 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Nexstar Broadcasting Group by 63.3% during the 1st quarter. Teachers Advisors LLC now owns 79,660 shares of the company’s stock worth $5,588,000 after acquiring an additional 30,876 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Nexstar Broadcasting Group by 28.1% during the 1st quarter. Legal & General Group Plc now owns 14,625 shares of the company’s stock worth $1,024,000 after acquiring an additional 3,210 shares in the last quarter.

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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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