Nexstar Media Group (NASDAQ:NXST) Earns Buy (B) Rating from Weiss Ratings

Key Points

• Nexstar Media Group has received a "buy (B)" rating from Weiss Ratings, indicating positive sentiment from analysts regarding its stock performance.
• Multiple brokerages have adjusted their price targets for Nexstar, with Guggenheim and Wells Fargo both raising their targets to $250.00, reflecting strong investor interest.
• The company's recent earnings report showed EPS of $3.06, exceeding estimates, but revenue declined by 3.2% from the previous year.

Nexstar Media Group (NASDAQ:NXST - Get Free Report)'s stock had its "buy (b)" rating restated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on NXST. Guggenheim lifted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Wells Fargo & Company increased their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Barrington Research reissued an "outperform" rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Finally, Benchmark increased their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average target price of $225.00.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $203.17 on Wednesday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.52 and a beta of 1.01. The firm's 50-day moving average is $201.20 and its 200 day moving average is $180.24. Nexstar Media Group has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. Nexstar Media Group's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.54 EPS. Sell-side analysts anticipate that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently added to or reduced their stakes in NXST. GAMMA Investing LLC grew its stake in Nexstar Media Group by 18.7% in the third quarter. GAMMA Investing LLC now owns 610 shares of the company's stock valued at $121,000 after purchasing an additional 96 shares during the last quarter. Corient Private Wealth LLC boosted its position in Nexstar Media Group by 7.4% in the second quarter. Corient Private Wealth LLC now owns 5,326 shares of the company's stock valued at $921,000 after buying an additional 368 shares during the last quarter. Momentum Wealth Planning LLC purchased a new stake in Nexstar Media Group in the second quarter valued at approximately $2,798,000. Caldwell Trust Co acquired a new position in Nexstar Media Group in the second quarter valued at approximately $44,000. Finally, Osaic Holdings Inc. lifted its holdings in Nexstar Media Group by 89.7% in the second quarter. Osaic Holdings Inc. now owns 8,543 shares of the company's stock valued at $1,506,000 after acquiring an additional 4,040 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.

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