Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Lowered to Hold at Zacks Investment Research

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, October 17th.

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. “

A number of other equities research analysts also recently weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. ValuEngine cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $85.00 target price on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st. Finally, BidaskClub lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $80.00.

Nexstar Broadcasting Group (NXST) traded up $1.40 during trading hours on Tuesday, reaching $64.45. The company’s stock had a trading volume of 1,202,647 shares, compared to its average volume of 700,874. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 3.64. The company has a market capitalization of $2,914.05, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.89 and a beta of 2.24. Nexstar Broadcasting Group has a 12-month low of $47.00 and a 12-month high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. The business had revenue of $626.11 million for the quarter, compared to the consensus estimate of $608.23 million. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. The firm’s quarterly revenue was up 139.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. equities research analysts forecast that Nexstar Broadcasting Group will post 3.36 earnings per share for the current fiscal year.

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In other Nexstar Broadcasting Group news, Director Dennis Miller sold 4,500 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Carter sold 3,125 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the sale, the chief financial officer now owns 67,836 shares in the company, valued at $4,307,586. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 977,932 shares of company stock valued at $58,630,802. Company insiders own 8.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in NXST. Thompson Siegel & Walmsley LLC purchased a new position in shares of Nexstar Broadcasting Group in the 2nd quarter worth $125,000. Blueport Capital L.P. purchased a new position in shares of Nexstar Broadcasting Group during the 1st quarter worth about $140,000. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Nexstar Broadcasting Group during the 2nd quarter worth about $145,000. Invictus RG purchased a new position in shares of Nexstar Broadcasting Group during the 1st quarter worth about $149,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Nexstar Broadcasting Group during the 3rd quarter worth about $172,000.

Nexstar Broadcasting Group Company Profile

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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Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

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