In a report released yesterday, James Goss from Barrington reiterated a Buy rating on Nexstar Media Group (NXST), with a price target of $135.00. The company’s shares closed last Tuesday at $140.33, close to its 52-week high of $141.90.
According to TipRanks.com, Goss is a 4-star analyst with an average return of 5.1% and a 48.8% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Clear Channel Outdoor, and Dolby Laboratories.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nexstar Media Group with a $142.50 average price target.
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Based on Nexstar Media Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.12 billion and net profit of $191 million. In comparison, last year the company earned revenue of $664 million and had a GAAP net loss of $5.85 million.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXST in relation to earlier this year. Most recently, in November 2020, Timothy Busch, the President of NXST sold 5,000 shares for a total of $545,250.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nexstar Media Group, Inc. operates as a television broadcasting and digital media company. It 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 stations are affiliated; programs that the stations produce; and first-run and rerun syndicated programs that the stations acquire. It also provides digital publishing and content management platforms to media publishers and advertisers. Nexstar Media Group was founded by Perry A. Sook in 1996 and is headquartered in Irving, TX.
