Nexstar Broadcasting Group Downgraded by Evercore Partners to Equal Weight (NXST)
Nexstar Broadcasting Group (NASDAQ:NXST) was downgraded by analysts at Evercore Partners from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Wedbush raised their price target on shares of Nexstar Broadcasting Group to $48.00 in a research note on Friday, May 9th. Finally, analysts at Wells Fargo & Co. upgraded shares of Nexstar Broadcasting Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. They now have a $40.00 price target on the stock, up previously from $36.00. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.51.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 46.60 on Friday. Nexstar Broadcasting Group has a 52-week low of $27.07 and a 52-week high of $56.42. The stock has a 50-day moving average of $42.62 and a 200-day moving average of $44.25. The company has a market cap of $1.427 billion and a price-to-earnings ratio of 287.20.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.35. The company had revenue of $72.20 million for the quarter, compared to the consensus estimate of $132.20 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, analysts predict that Nexstar Broadcasting Group will post $2.60 earnings per share for the current fiscal year.
Nexstar Broadcasting, Inc (NASDAQ:NXST) is a television broadcasting and digital media company focused on the acquisition, development and operation of television (TV) stations and interactive community Websites in the United States.
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