Nexstar Media Group (NXST) Gets a Buy Rating from Barrington

Barrington analyst James Goss reiterated a Buy rating on Nexstar Media Group (NXSTResearch Report) today and set a price target of $115.00. The company’s shares closed last Tuesday at $93.17.

According to, Goss ‘ ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -4.6% and a 43.2% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment, Clear Channel Outdoor, and Dolby Laboratories.

Nexstar Media Group has an analyst consensus of Strong Buy, with a price target consensus of $118.50, a 31.1% upside from current levels. In a report issued on August 5, Wells Fargo also maintained a Buy rating on the stock with a $112.00 price target.

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Based on Nexstar Media Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.09 billion and net profit of $157 million. In comparison, last year the company earned revenue of $649 million and had a net profit of $68 million.

Based on the recent corporate insider activity of 94 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 June 2020, Timothy Busch, the President of NXST sold 3,000 shares for a total of $267,000.

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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.