B.Riley FBR analyst Zachary Silver maintained a Buy rating on Nexstar Media Group Inc (NXST) yesterday and set a price target of $123. The company’s shares opened today at $94.70, close to its 52-week high of $96.75.
Silver wrote:
“Nexstar’s (NXST-Buy, $123 PT) 4Q18 revenues, adj. EPS topped estimates, as Nexstar joined peers in participating in a record surge of political ads on TV in 2018. NXST also booked better core advertising numbers than we were expecting, noting that November and December were the strongest months for non-political advertising in 2018, excluding February, which featured the Winter Olympics. Notably absent from the release was FCF guidance for the 2019/2020 cycle, which we expected NXST to issue with the release, but it did reiterate its guidance of $900M in 2018/2019 average FCF, pro forma for the Tribune merger, which it still expects to close in 3Q18.”
According to TipRanks.com, Silver is a 3-star analyst with an average return of 8.2% and a 82.4% success rate. Silver covers the Technology sector, focusing on stocks such as CSG Systems International, United States Cellular, and Wideopenwest Inc.
Nexstar Media Group Inc has an analyst consensus of Strong Buy, with a price target consensus of $111.67, representing a 17.9% upside. In a report released yesterday, Barrington also maintained a Buy rating on the stock with a $110 price target.
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Based on Nexstar Media Group Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $153 million. In comparison, last year the company had a net profit of $378 million.
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Nexstar Media Group, Inc. is a television broadcasting and digital media company, which focuses on the acquisition, development and operation of television stations and interactive community websites and digital media services in the U.S. The company provides services free over-the-air programming which includes programs produced by networks with which the st
