Nexstar Broadcasting Group Inc. (NASDAQ:NXST) Given Consensus Rating of “Buy” by Analysts
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the company. One research analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $68.75.
NXST has been the topic of a number of research analyst reports. Jefferies Group reissued a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Zacks Investment Research lowered Nexstar Broadcasting Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, Wells Fargo & Co. reissued a “positive” rating and issued a $66.00 price target on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th.
In related news, SVP Blake Russell sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $52.38, for a total transaction of $523,800.00. Following the sale, the senior vice president now directly owns 27,861 shares in the company, valued at approximately $1,459,359.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas Carter sold 1,236 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $51.52, for a total value of $63,678.72. Following the sale, the chief financial officer now owns 67,836 shares in the company, valued at $3,494,910.72. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
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Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Nexstar Broadcasting Group by 72.4% in the second quarter. BlackRock Inc. now owns 3,609 shares of the company’s stock valued at $172,000 after buying an additional 1,516 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Nexstar Broadcasting Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,285 shares of the company’s stock worth $204,000 after buying an additional 518 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Nexstar Broadcasting Group by 4.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,886 shares of the company’s stock worth $216,000 after buying an additional 205 shares during the period. LPL Financial LLC acquired a new stake in shares of Nexstar Broadcasting Group during the first quarter worth $226,000. Finally, Cantab Capital Partners LLP raised its stake in shares of Nexstar Broadcasting Group by 1,080.4% in the second quarter. Cantab Capital Partners LLP now owns 5,300 shares of the company’s stock worth $252,000 after buying an additional 4,851 shares during the period.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded down 5.88% during trading on Tuesday, reaching $51.18. The company had a trading volume of 1,220,514 shares. The firm has a 50-day moving average price of $52.78 and a 200-day moving average price of $50.43. Nexstar Broadcasting Group has a 52-week low of $34.65 and a 52-week high of $61.79. The company has a market capitalization of $1.57 billion, a P/E ratio of 17.95 and a beta of 2.04.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The business earned $261.99 million during the quarter, compared to analyst estimates of $265.19 million. During the same period in the previous year, the business posted $0.63 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. On average, analysts predict that Nexstar Broadcasting Group will post $3.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.77%. Nexstar Broadcasting Group’s payout ratio is currently 33.45%.
About Nexstar Broadcasting Group
Nexstar Broadcasting Group, Inc (Nexstar) is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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