Nexstar Media Group (NASDAQ:NXST) Given New $204.00 Price Target at Citigroup
Citigroup has lowered its price target for Nexstar Media Group from $218.00 to $204.00, maintaining a 'neutral' rating. The new target suggests a potential upside of 6.63% from the current stock price. Other analysts have mixed ratings, with some increasing their price targets and others maintaining a hold. Nexstar's recent earnings missed estimates, and its revenue was down 12.3% year-over-year. Institutional investors have been adjusting their positions in the company.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) had its target price lowered by equities research analysts at Citigroup from $218.00 to $204.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 6.63% from the stock's current price.
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NXST has been the topic of a number of other research reports. Benchmark increased their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Nexstar Media Group in a report on Monday, November 17th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $229.00 to $225.00 and set a "buy" rating for the company in a report on Tuesday, November 11th. 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, Wells Fargo & Company boosted their price target on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $222.38.
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Nexstar Media Group Stock Up 2.5%
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NASDAQ:NXST traded up $4.62 during trading hours on Tuesday, reaching $191.32. 167,027 shares of the company traded hands, compared to its average volume of 392,176. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The business's 50-day moving average price is $194.83 and its two-hundred day moving average price is $188.37. Nexstar Media Group has a 1 year low of $141.66 and a 1 year high of $223.36. The stock has a market capitalization of $5.80 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.40 and a beta of 0.99.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.48). The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 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 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.27 earnings per share. Analysts predict that Nexstar Media Group will post 21.62 earnings per share for the current year.
Hedge Funds Weigh In On Nexstar Media Group
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A number of hedge funds have recently made changes to their positions in NXST. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company's stock valued at $275,121,000 after purchasing an additional 42,391 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Nexstar Media Group by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock valued at $203,964,000 after buying an additional 35,938 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company's stock valued at $152,598,000 after buying an additional 187,864 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock worth $144,110,000 after buying an additional 195,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company's stock worth $127,070,000 after acquiring an additional 75,228 shares during the last quarter. 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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