Zacks Investment Research Downgrades Nexstar Media Group (NASDAQ:NXST) to Sell

Zacks Investment Research downgraded shares of Nexstar Media Group (NASDAQ:NXST) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. Benchmark lifted their price objective on Nexstar Media Group from $135.00 to $150.00 and gave the stock a buy rating in a report on Monday, September 23rd. Evercore ISI reiterated a buy rating and issued a $116.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Barrington Research reiterated a buy rating and issued a $135.00 price objective on shares of Nexstar Media Group in a report on Wednesday, August 7th. BidaskClub downgraded Nexstar Media Group from a hold rating to a sell rating in a report on Friday, September 27th. Finally, Stephens set a $150.00 price objective on Nexstar Media Group and gave the stock a buy rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. Nexstar Media Group currently has an average rating of Hold and a consensus target price of $129.63.

Shares of NXST stock opened at $97.05 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.88. The business has a 50-day moving average price of $100.09 and a two-hundred day moving average price of $103.70. Nexstar Media Group has a 12-month low of $70.09 and a 12-month high of $119.93. The firm has a market cap of $4.56 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.60 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.04. The firm had revenue of $649.01 million during the quarter, compared to analyst estimates of $653.00 million. Nexstar Media Group had a return on equity of 21.05% and a net margin of 13.61%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. As a group, research analysts expect that Nexstar Media Group will post 6.17 EPS for the current fiscal year.

In related news, Director Charles Thomas Mcmillen sold 625 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $106.55, for a total transaction of $66,593.75. Following the transaction, the director now owns 3,750 shares in the company, valued at approximately $399,562.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Hanseatic Management Services Inc. increased its stake in Nexstar Media Group by 6.1% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,714 shares of the company’s stock worth $173,000 after buying an additional 98 shares in the last quarter. Miles Capital Inc. boosted its holdings in shares of Nexstar Media Group by 7.1% during the 2nd quarter. Miles Capital Inc. now owns 2,143 shares of the company’s stock valued at $216,000 after purchasing an additional 142 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of Nexstar Media Group by 2.1% during the 2nd quarter. Hancock Whitney Corp now owns 7,405 shares of the company’s stock valued at $748,000 after purchasing an additional 151 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nexstar Media Group by 11.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,007 shares of the company’s stock valued at $405,000 after purchasing an additional 400 shares during the last quarter. Finally, USA Financial Portformulas Corp boosted its holdings in shares of Nexstar Media Group by 13.0% during the 2nd quarter. USA Financial Portformulas Corp now owns 4,190 shares of the company’s stock valued at $454,000 after purchasing an additional 483 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

Nexstar Media Group Company Profile

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.

Featured Article: Benefits of owning preferred stock

Get a free copy of the Zacks research report on Nexstar Media Group (NXST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.