Guggenheim Keeps a Buy Rating on Nexstar

By Carrie Williams

Guggenheim analyst Currey Baker reiterated a Buy rating on Nexstar (NASDAQ: NXST) today and set a price target of $88. The company’s shares opened today at $74.45.

According to, Baker is a 3-star analyst with an average return of 11.7% and a 90.0% success rate. Baker covers the Services sector, focusing on stocks such as Live Nation Entertainment, Gray Television, and World Wrestling.

Currently, the analyst consensus on Nexstar is Strong Buy and the average price target is $92.60, representing a 24.4% upside.

In a report released today, Benchmark Co. also assigned a Buy rating to the stock with a $94 price target.

Based on Nexstar’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $612 million and quarterly net profit of $46.48 million. In comparison, last year the company earned revenue of $310 million and had a net profit of $20.48 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2017, Blake Russell, the SVP, Station Operations of NXST sold 20,000 shares for a total of $1,566,200.

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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 & digital media services in the United States. 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.