Nexstar Broadcasting Group Coverage Initiated at Noble Financial (NXST)
Analysts at Noble Financial began coverage on shares of Nexstar Broadcasting Group (NASDAQ:NXST) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
NXST has been the subject of a number of other recent research reports. Analysts at Wedbush raised their price target on shares of Nexstar Broadcasting Group from $48.00 to $55.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Nexstar Broadcasting Group in a research note on Wednesday, June 25th. They set a “hold” rating on the stock. Finally, analysts at Evercore Partners downgraded shares of Nexstar Broadcasting Group from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 6th. They now have a $52.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nexstar Broadcasting Group has an average rating of “Buy” and an average price target of $46.93.
Nexstar Broadcasting Group (NASDAQ:NXST) traded up 0.22% on Wednesday, hitting $50.63. 184,556 shares of the company’s stock traded hands. Nexstar Broadcasting Group has a 1-year low of $28.88 and a 1-year high of $56.42. The stock’s 50-day moving average is $46.66 and its 200-day moving average is $43.95. The company has a market cap of $1.550 billion and a price-to-earnings ratio of 313.79.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts expect that Nexstar Broadcasting Group will post $2.53 EPS for the current fiscal year.
In other Nexstar Broadcasting Group news, COO Brian Jones sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $49.01, for a total value of $1,470,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Nexstar Broadcasting Group, 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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