Nexstar Media Group (NASDAQ:NXST) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

A number of other equities analysts also recently weighed in on the stock. Benchmark raised their target price on shares of Nexstar Media Group from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, June 23rd. Barrington Research reaffirmed a “buy” rating and set a $115.00 target price on shares of Nexstar Media Group in a research note on Friday, July 10th. Wells Fargo & Co raised their price target on shares of Nexstar Media Group from $81.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $112.13.

NXST traded down $1.65 on Friday, hitting $87.65. The company had a trading volume of 311,908 shares, compared to its average volume of 299,251. The company has a debt-to-equity ratio of 3.78, a current ratio of 1.65 and a quick ratio of 1.65. Nexstar Media Group has a 52-week low of $43.37 and a 52-week high of $133.25. The stock has a fifty day simple moving average of $83.98 and a 200-day simple moving average of $88.57. The firm has a market capitalization of $3.97 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.65 and a beta of 1.88.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Wednesday, May 6th. The company reported $3.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.57. Nexstar Media Group had a net margin of 9.48% and a return on equity of 18.14%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was up 74.2% on a year-over-year basis. Equities research analysts expect that Nexstar Media Group will post 13.42 earnings per share for the current fiscal year.

In related news, Director Dennis Miller sold 1,000 shares of Nexstar Media Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $100.57, for a total transaction of $100,570.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Timothy C. Busch sold 3,032 shares of Nexstar Media Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $85.14, for a total transaction of $258,144.48. Following the transaction, the insider now owns 90,759 shares in the company, valued at approximately $7,727,221.26. The disclosure for this sale can be found here. Insiders have sold a total of 12,657 shares of company stock worth $1,164,589 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cutler Group LP lifted its stake in Nexstar Media Group by 108.8% in the 2nd quarter. Cutler Group LP now owns 326 shares of the company’s stock worth $27,000 after purchasing an additional 4,026 shares in the last quarter. Signaturefd LLC lifted its stake in Nexstar Media Group by 265.6% in the 2nd quarter. Signaturefd LLC now owns 340 shares of the company’s stock worth $28,000 after purchasing an additional 247 shares in the last quarter. Harwood Advisory Group LLC purchased a new stake in Nexstar Media Group in the 1st quarter worth $57,000. Toronto Dominion Bank purchased a new stake in Nexstar Media Group in the 1st quarter worth $65,000. Finally, Synovus Financial Corp lifted its stake in Nexstar Media Group by 30.0% in the 1st quarter. Synovus Financial Corp now owns 1,300 shares of the company’s stock worth $75,000 after purchasing an additional 300 shares in the last quarter.

About Nexstar Media Group

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