Wall Street Zen Upgrades Nexstar Media Group (NASDAQ:NXST) to "Buy"

Key Points

• Wall Street Zen upgraded Nexstar Media Group from “hold” to “buy.” Analysts’ consensus rating is “Moderate Buy,” with an average price target of $256.67.
• Third-quarter revenue rose 78% year over year to $2.13 billion, beating estimates, helped by record political advertising revenue of $1.1 billion.
• Quarterly EPS of $7.92 fell short of the $8.08 consensus estimate, tempering the strong revenue results.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on NXST. Weiss Ratings reissued a "hold (c)" rating on shares of Nexstar Media Group in a report on Monday, August 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating for the company in a report on Monday, August 10th. Wells Fargo & Company increased their price objective on shares of Nexstar Media Group from $249.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Zacks Research cut shares of Nexstar Media Group from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.67.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $190.02 on Friday. The stock has a market cap of $5.85 billion, a P/E ratio of 17.29 and a beta of 0.97. Nexstar Media Group has a twelve month low of $153.17 and a twelve month high of $254.30. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.09. The firm's fifty day simple moving average is $167.80 and its 200 day simple moving average is $191.75.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $7.92 EPS for the quarter, missing analysts' consensus estimates of $8.08 by ($0.16). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same period last year, the business posted $2.14 earnings per share. The business's revenue was up 78.0% compared to the same quarter last year. As a group, research analysts predict that Nexstar Media Group will post 32.88 EPS for the current year.

Insider Activity at Nexstar Media Group

In related news, COO Michael Biard sold 2,465 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $185.82, for a total transaction of $458,046.30. Following the transaction, the chief operating officer directly owned 20,890 shares in the company, valued at $3,881,779.80. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bernadette S. Aulestia sold 300 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the completion of the sale, the director owned 4,383 shares of the company's stock, valued at $818,744.40. This represents a 6.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,596 shares of company stock worth $1,733,169. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the business. Heritage Family Offices LLP acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $37,000. Covestor Ltd raised its holdings in Nexstar Media Group by 130.2% during the third quarter. Covestor Ltd now owns 297 shares of the company's stock worth $48,000 after acquiring an additional 168 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $63,000. Allworth Financial LP increased its stake in shares of Nexstar Media Group by 35.8% in the second quarter. Allworth Financial LP now owns 360 shares of the company's stock valued at $64,000 after buying an additional 95 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Nexstar Media Group during the second quarter worth $67,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: Wells Fargo raised its price target to $250 from $249 and reaffirmed its Overweight rating. The new target implies about 31.6% upside from the cited $190.02 share price. Wells Fargo rating information
• Positive Sentiment: Third-quarter revenue reached a record $2.13 billion, up 78% year over year and above the $2.07 billion analyst estimate. Nexstar said political advertising revenue reached a record $1.1 billion for 2026, 31% higher than in the 2022 midterm cycle, providing a major boost to results. Nexstar Q3 revenue and political advertising
• Negative Sentiment: Adjusted earnings were $7.92 per share, below the $8.08 consensus estimate. The earnings miss tempers the otherwise strong revenue growth. Nexstar Q3 earnings results

About Nexstar Media Group

Nexstar Media Group, Inc is a television broadcasting and digital media company headquartered in Irving, Texas. The company operates local television stations across the United States, with stations affiliated with major networks including ABC, NBC, CBS, FOX, The CW and MyNetworkTV. Its local media operations provide news, weather, sports, entertainment and other programming to audiences in markets nationwide.

Nexstar also owns and operates national media properties, including NewsNation, a cable and streaming news network, and The Hill, a political news and information platform.

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