Nexstar Media Group (NASDAQ:NXST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $82.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.93% from the stock’s previous close.

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 analysts have also weighed in on NXST. Guggenheim initiated coverage on Nexstar Media Group in a research note on Wednesday, October 18th. They issued a “buy” rating and a $90.00 target price for the company. Deutsche Bank initiated coverage on Nexstar Media Group in a research note on Friday, October 20th. They issued a “buy” rating and a $80.00 target price for the company. FBR & Co initiated coverage on Nexstar Media Group in a research note on Tuesday, October 31st. They issued a “buy” rating and a $79.00 target price for the company. B. Riley restated a “buy” rating and issued a $79.00 target price on shares of Nexstar Media Group in a research note on Wednesday, November 1st. Finally, BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Nexstar Media Group presently has an average rating of “Buy” and an average price target of $86.60.

Nexstar Media Group (NXST) opened at $71.35 on Wednesday. The stock has a market capitalization of $3,278.48, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 0.69 and a beta of 1.83. Nexstar Media Group has a twelve month low of $55.95 and a twelve month high of $82.95. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Monday, November 6th. The company reported $0.98 earnings per share 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 during the quarter, compared to analyst estimates of $609.44 million. During the same period last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 122.0% compared to the same quarter last year. equities research analysts anticipate that Nexstar Media Group will post 3.46 EPS for the current year.

In related news, insider Gary Michael Vaughn sold 400 shares of Nexstar Media Group stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total value of $28,528.00. Following the completion of the sale, the insider now directly owns 7,140 shares in the company, valued at $509,224.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lisbeth Mcnabb sold 5,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $79.61, for a total value of $398,050.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $398,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,610 shares of company stock valued at $3,129,294. Corporate insiders own 7.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NXST. Cerebellum GP LLC acquired a new stake in Nexstar Media Group in the fourth quarter worth about $132,000. Victory Capital Management Inc. acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth about $172,000. Ameritas Investment Partners Inc. grew its position in shares of Nexstar Media Group by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after buying an additional 312 shares during the period. Cetera Investment Advisers acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth about $260,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth about $262,000.

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Nexstar Media 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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