Nexstar Media Group (NASDAQ:NXST) Price Target Lowered to $204.00 at Citigroup

by · The Markets Daily

Nexstar Media Group (NASDAQ:NXST – Get Free Report) had its price objective reduced by investment analysts at Citigroup from $218.00 to $204.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 6.63% from the stock’s current price.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Guggenheim boosted their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Benchmark raised their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.38.

View Our Latest Analysis on NXST

Nexstar Media Group Price Performance

NASDAQ:NXST traded up $4.62 during trading hours on Tuesday, reaching $191.32. The stock had a trading volume of 167,027 shares, compared to its average volume of 392,176. The stock has a market capitalization of $5.80 billion, a PE ratio of 9.92, a PEG ratio of 1.40 and a beta of 0.99. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a 50 day moving average price of $194.83 and a two-hundred day moving average price of $188.37. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business posted $5.27 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nexstar Media Group will post 21.62 earnings per share for the current fiscal year.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC bought a new stake in Nexstar Media Group during the 3rd quarter valued at $28,000. IFP Advisors Inc boosted its position in Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Root Financial Partners LLC purchased a new position in Nexstar Media Group in the third quarter valued at about $31,000. Hantz Financial Services Inc. raised its holdings in Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after purchasing an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

(Get Free Report)

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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