Nexstar Broadcasting Group (NXST) Upgraded at BidaskClub

Nexstar Broadcasting Group (NASDAQ:NXST) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other brokerages also recently issued reports on NXST. B. Riley boosted their price target on shares of Nexstar Broadcasting Group from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Deutsche Bank boosted their price target on shares of Nexstar Broadcasting Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $81.00 price target (down previously from $83.00) on shares of Nexstar Broadcasting Group in a report on Thursday, August 10th. FBR & Co assumed coverage on shares of Nexstar Broadcasting Group in a report on Tuesday, October 31st. They set a “buy” rating and a $79.00 price target for the company. Finally, ValuEngine downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $82.00.

Shares of Nexstar Broadcasting Group (NXST) opened at $71.20 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.58. Nexstar Broadcasting Group has a 12 month low of $55.95 and a 12 month high of $73.90. The firm has a market cap of $3,223.80, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.59 and a beta of 2.21.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a net margin of 5.60% and a return on equity of 16.20%. The company had revenue of $611.87 million during the quarter, compared to the consensus estimate of $609.44 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 122.0% compared to the same quarter last year. equities research analysts forecast that Nexstar Broadcasting Group will post 3.45 EPS for the current year.

In related news, Director John R. Muse sold 641,240 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $60.10, for a total value of $38,538,524.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 300,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $66.13, for a total transaction of $19,839,000.00. The disclosure for this sale can be found here. Insiders sold 1,275,517 shares of company stock valued at $78,330,876 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC acquired a new stake in Nexstar Broadcasting Group in the 2nd quarter valued at about $125,000. Bronfman E.L. Rothschild L.P. acquired a new stake in Nexstar Broadcasting Group in the 2nd quarter valued at about $145,000. Victory Capital Management Inc. acquired a new stake in Nexstar Broadcasting Group in the 3rd quarter valued at about $172,000. SG Americas Securities LLC lifted its holdings in Nexstar Broadcasting Group by 29.8% in the 2nd quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after acquiring an additional 785 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Nexstar Broadcasting Group by 2.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock valued at $214,000 after acquiring an additional 99 shares during the last quarter.

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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.

Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

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