Nexstar Broadcasting Group Inc. (NXST) Stock Price Down 7.1%
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) shares traded down 7.1% during trading on Tuesday . The company traded as low as $50.06 and last traded at $50.51, with a volume of 1,112,162 shares. The stock had previously closed at $54.38.
A number of research analysts have commented on the company. Wells Fargo & Co. reaffirmed a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. Zacks Investment Research raised Nexstar Broadcasting Group from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a report on Wednesday, July 6th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $66.38.
The stock has a 50 day moving average of $52.78 and a 200 day moving average of $50.43. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 18.24 and a beta of 2.04.
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Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.07. The business earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, analysts forecast that Nexstar Broadcasting Group Inc. will post $3.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. Nexstar Broadcasting Group’s payout ratio is presently 33.45%.
In other news, CFO Thomas Carter sold 1,236 shares of Nexstar Broadcasting Group stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $51.52, for a total value of $63,678.72. Following the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at $3,494,910.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Blake Russell sold 10,000 shares of Nexstar Broadcasting Group stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $52.38, for a total value of $523,800.00. Following the completion of the transaction, the senior vice president now owns 27,861 shares in the company, valued at $1,459,359.18. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Nexstar Broadcasting Group by 72.4% in the second quarter. BlackRock Inc. now owns 3,609 shares of the company’s stock worth $172,000 after buying an additional 1,516 shares during the last quarter. Teacher Retirement System of Texas raised its position 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 valued at $204,000 after buying an additional 518 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 valued at $216,000 after buying an additional 205 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Nexstar Broadcasting Group during the first quarter valued at about $226,000. Finally, Cantab Capital Partners LLP raised its position 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 valued at $252,000 after buying an additional 4,851 shares in the last quarter.
Nexstar Broadcasting Group Company Profile
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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