Why Nexstar Broadcasting Group (NXST) Stock Is Climbing This Morning

NEW YORK (TheStreet) -- Shares of Nexstar Broadcasting Group Inc. (NXST) are higher by 3.46% to $51.67 on Monday morning as TV broadcasting stocks continue to gain after last Wednesday's U.S. Supreme Court ruling stating the online video service Aero Inc. violated copyright laws by streaming broadcast TV programs.

On Saturday, June 28 Aero suspended its operations as it looks to re-evaluate its business strategy following the Supreme Court decision, the Wall Street Journal reports.

Other broadcasting stocks increasing as a result include Sinclair Broadcasting Group (SBGI), up 2.02% to $35.32, and Grey Television Inc. (GTN), up 3.75% to $13.27.

Must Read: Warren Buffett's 25 Favorite Stocks

Separately, TheStreet Ratings team rates NEXSTAR BROADCASTING GROUP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate NEXSTAR BROADCASTING GROUP (NXST) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good."

If you liked this article you might like

Tegna Shaping Up to Be Attractive Acquisition Target Following Court Ruling

Warren Buffett's Wisdom: Cramer's 'Mad Money' Recap (Monday 5/8/17)

Cramer: What 2 Deals Say About Valuation

5 Things You Must Know Before the Market Opens Monday

21st Century Fox Teaming With Blackstone Group on Tribune Bid