Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has been given an average rating of “Buy” by the ten analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $78.86.

A number of equities analysts recently commented on the stock. BidaskClub raised shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Wells Fargo & Company reissued an “outperform” rating and issued a $85.00 price objective on shares of Nexstar Broadcasting Group in a research note on Friday. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $83.00 price objective on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th.

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In other news, Director John R. Muse sold 38,631 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $70.10, for a total transaction of $2,708,033.10. Following the transaction, the director now directly owns 7,141 shares of the company’s stock, valued at $500,584.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Muse sold 700 shares of the company’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $70.01, for a total value of $49,007.00. Following the transaction, the director now directly owns 7,400 shares in the company, valued at $518,074. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,631 shares of company stock worth $2,778,049. Insiders own 8.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Nexstar Broadcasting Group by 4.3% in the first quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock worth $351,000 after buying an additional 207 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Nexstar Broadcasting Group by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,630 shares of the company’s stock worth $465,000 after buying an additional 311 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Nexstar Broadcasting Group by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 48,784 shares of the company’s stock worth $3,088,000 after buying an additional 665 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Nexstar Broadcasting Group by 48.4% in the first quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock worth $185,000 after buying an additional 859 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nexstar Broadcasting Group by 98.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after buying an additional 901 shares during the last quarter.

Shares of Nexstar Broadcasting Group (NXST) opened at 63.15 on Monday. The company has a 50 day moving average price of $59.32 and a 200 day moving average price of $64.63. The stock has a market cap of $2.98 billion, a P/E ratio of 29.33 and a beta of 2.30. Nexstar Broadcasting Group has a 1-year low of $47.00 and a 1-year high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.71. The company had revenue of $540.32 million during the quarter, compared to the consensus estimate of $525.76 million. Nexstar Broadcasting Group had a net margin of 5.47% and a return on equity of 24.33%. Nexstar Broadcasting Group’s revenue for the quarter was up 111.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts anticipate that Nexstar Broadcasting Group will post $3.37 EPS for the current year.

Nexstar Broadcasting Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, 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, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

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