Benchmark Reaffirms Buy Recommendation for Nexstar Media Group (NASDAQ:NXST)

In a recent research report released on Friday, Benchmark reiterated its "buy" rating for Nexstar Media Group (NASDAQ:NXST). The firm set a price target of $215.00 for the company's stock, suggesting a potential upside of 14.06% based on its previous close.

Analyst Insights on Nexstar Media Group

Nexstar Media Group has recently attracted attention from multiple analysts. On Thursday, Barrington Research reiterated an "outperform" rating and established a price target of $200.00. Meanwhile, Guggenheim adjusted its target down from $200.00 to $198.00 while maintaining a "buy" rating on October 4th. Additionally, StockNews.com downgraded Nexstar Media Group from a "buy" to a "hold" rating on the same day. Loop Capital also revised its outlook, moving from a "buy" to a "hold" and reducing the target price from $200.00 to $190.00. Deutsche Bank Aktiengesellschaft earlier cut its price target from $207.00 to $205.00, while still holding a "buy" rating.

Market Sentiment and Recommendations

Overall, three analysts have issued a hold rating, while six have advised buying shares of Nexstar Media Group. Current reports indicate that the average rating is a "Moderate Buy," with an average price target of $198.50 according to MarketBeat.

Nexstar Media Group Stock Overview

On Friday, shares of Nexstar Media Group opened at $188.50. The company has a current ratio of 1.78, a quick ratio of 1.78, and a debt-to-equity ratio of 2.92. With a market capitalization of $6.08 billion, Nexstar has a price-to-earnings (P/E) ratio of 14.82 and a price-to-earnings-growth (PEG) ratio of 0.20. The stock's beta stands at 1.48. Over the past year, shares have fluctuated between a low of $140.92 and a high of $191.86.

Earnings Report

Nexstar Media Group recently reported its earnings on November 7th. For the quarter, the company delivered earnings per share (EPS) of $5.27, slightly missing analysts' expectations of $5.51 by $0.24. The reported revenue for the quarter was $1.37 billion, matching analyst estimates, while the previous year saw the company post an EPS of $0.70. Year-over-year, quarterly revenue saw a 20.7% increase. Analysts project that Nexstar Media Group will achieve an EPS of 25.72 for the current fiscal year.

Insider Trading Activities

CFO Lee Ann Gliha sold 984 shares on August 14th at an average price of $157.63, totaling about $155,107.92. Post-sale, she retains 8,107 shares of Nexstar, valued around $1,277,906.41. In another transaction, Director Jay M. Grossman sold 10,000 shares on September 18th for $1,707,000, maintaining 54,625 shares valued at approximately $9,324,487.50. Recent insider trading has seen a total of 41,112 shares sold, amounting to $6,887,029, with insiders retaining 6.30% of the company's stock.

Institutional Ownership Trends

Institutional investors have recently adjusted their holdings in Nexstar Media Group. Capital Research Global Investors bought new shares valued at $92,323,000 in the first quarter. Vanguard Group Inc. increased its stake by 3.9%, now owning 3,370,415 shares worth $580,689,000. Payden & Rygel Investment Group also acquired a new position in the same timeframe valued at approximately $15,144,000. Copeland Capital Management LLC raised its stake by 18.1%, owning 547,728 shares worth $90,567,000. 95.30% of Nexstar Media Group's stock is currently held by institutional investors and hedge funds.

Company Overview

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes local and national news, sports, and entertainment content across television and digital platforms in the United States. It provides various services related to television programming and operates numerous channels across different markets.

Nexstar, Buy, Analysts