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

Nexstar Media Group (NASDAQ:NXST) had its target price reduced by research analysts at Citigroup from $218.00 to $204.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 6.80% from the stock’s current price.

A number of other brokerages have also recently commented on NXST. Wells Fargo & Company increased their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, November 17th. Benchmark lifted their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Barrington Research restated an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Up 0.0%

NXST stock opened at $191.02 on Tuesday. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.40 and a beta of 0.99. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $223.36. The business has a 50 day moving average price of $194.29 and a two-hundred day moving average price of $188.57. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 28.40% and a net margin of 11.90%.The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.27 EPS. Analysts anticipate that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter worth about $28,000. Root Financial Partners LLC acquired a new stake in Nexstar Media Group in the 3rd quarter worth about $31,000. Allworth Financial LP boosted its holdings in Nexstar Media Group by 617.2% in the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of Nexstar Media Group by 164.5% during the 3rd 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. 95.30% of the stock is owned by institutional investors and hedge funds.

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.