Nexstar Broadcasting Group (NXST) Releases Quarterly Earnings Results
Nexstar Broadcasting Group (NASDAQ:NXST) posted its quarterly earnings results on Thursday. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.02, Analyst Ratings Network.com reports. The company had revenue of $143.90 million for the quarter, compared to the consensus estimate of $144.12 million. During the same quarter last year, the company posted $0.20 earnings per share. Nexstar Broadcasting Group’s revenue was up 14.0% compared to the same quarter last year.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 6.51% on Thursday, hitting $49.40. The stock had a trading volume of 79,449 shares. 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 $48.19 and its 200-day moving average is $43.45. The company has a market cap of $1.513 billion and a price-to-earnings ratio of 288.07.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, August 13th.
A number of research firms have recently commented on NXST. Analysts at Noble Financial initiated coverage on shares of Nexstar Broadcasting Group in a research note on Wednesday, July 9th. They set a “hold” rating on the stock. On a related note, 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.93.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.