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Stock analysts at Benchmark Co. hoisted their price target on shares of Nexstar Broadcasting Group (NASDAQ: NXST) from $21.00 to $39.00 in a report issued on Wednesday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Benchmark Co.’s target price indicates a potential upside of 14.71% from the stock’s previous close.

The analysts wrote, “After a slow start, Nexstar’s (NXST-Buy, PT from $21 to $39) television core advertising strengthened in 1Q13, improving each month in the quarter, in line with the industry trend. We believe the uptrend has continued into 2Q. Retransmission revenues are up sharply as new contracts with cable operators roll over and eMedia is also up. Among ad categories, more are up than down for both local and national, and in recent weeks, pacings have strengthened among national and local categories. Furthermore, we expect Nexstar will continue to be a buyer in the ongoing industry consolidation, positioning them well for what we think could be another record political year in 2014 and beyond.”

Nexstar Broadcasting Group (NASDAQ: NXST) remained flat at $34.00 during trading on Wednesday. Nexstar Broadcasting Group has a 52-week low of $6.00 and a 52-week high of $23.11. The stock’s 50-day moving average is currently $18.46. The company has a market cap of $998.2 million and a price-to-earnings ratio of 5.82.

Nexstar Broadcasting Group (NASDAQ: NXST) last announced its earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.10. The company had revenue of $112.21 million for the quarter, compared to the consensus estimate of $109.81 million. Analysts expect that Nexstar Broadcasting Group will post $1.10 EPS for the current fiscal year.

A number of other firms have also recently commented on NXST. Analysts at ING Group reiterated a “hold” rating on shares of Nexstar Broadcasting Group in a research note to investors on Wednesday, June 19th. Separately, analysts at Gabelli downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, June 19th. Finally, analysts at Credit Suisse raised their price target on shares of Nexstar Broadcasting Group from $30.00 to $42.00 in a research note to investors on Tuesday, June 18th. They now have an “outperform” rating on the stock.

Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $34.25.

Nexstar Broadcasting Group, Inc (NASDAQ: NXST) is a television broadcasting company focused on the acquisition, development and operation of television stations in medium-sized markets in the United States.

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